The Estates Gazette Awards 2013, that coveted date on the property calendar, is just a few weeks away. The judges, a panel of leading property figures, have made their decisions, and now there are no less than 19 categories bursting with the very best contenders. Some have been outstanding.
Savills and The Crown Estate lead the nominations, with Savills shortlisted in four adviser categories – industrial, residential, leisure and national – while two of the firm’s rising stars are contenders for Young Property Professional of the Year.
Among the property companies, The Crown Estate has earned three nominations, while SEGRO, British Land, Legal & General Property and M&G Investments each have two. As for advisers, Knight Frank has three nominations while CBRE, Colliers International, Deloitte Real Estate and DTZ each have two.
The winners will be revealed at a ceremony at the London Hilton on Park Lane on 12 December. The evening never fails to entice, entertain and excite. Be sure to join us, wine and dine with friends and colleagues, kick your heels up at the end, and help us celebrate the success of our industry.
1 PROPERTY ADVISER OF THE YEAR – RETAIL
Shortlist
CBRE UK It is more than just the deals that make CBRE UK a contender. It is evolving with the market and has earned more than £33m in fees – a 20% year-on-year increase across the company.
Cushman & Wakefield It has been a record-breaking year for the C&W retail team. Not only has it come to dominate the shopping centre, out-of-town retail and factory outlet markets, but it now also manages every retail property owned by the Crown Estate.
GL Hearn Not only is GL Hearn the go-to adviser for the UK’s major supermarkets, but the firm also boasts instructions on more than 500,000 sq ft of shopping centres and has won business for its holistic approach to retail-led regeneration.
Lunson Mitchenall A leading niche retail and leisure agent, this adviser has facilitated more than £600m of investment deals, including one of the largest and most significant transactions of the past year for The Friary Centre, Guildford, and thecentre:mk, Milton Keynes.
Nash Bond This niche practice might not have the size of its market peers, but it has got their might and as a result, has secured major business wins including on The Crown Estate’s St James’s portfolio and on Hammerson’s Victoria Gate & Quarter, Leeds.
2 PROPERTY COMPANY OF THE YEAR – RETAIL
Sponsored by
Knight Frank
Shortlist
British Land The developer has taken a raft of brands out of town, installed Wi-Fi in its shopping centres, won 40 planning consents, and achieved 4% in property returns to boot.
The Crown Estate This developer has gone above and beyond by enhancing the pubic realm around its flagship investments in Regent Street and St James’s.
Land Securities In the past year alone, Land Securities launched two major shopping destinations: Trinity Leeds and in Buchanan Street Glasgow – both within 24 hours of each other.
Westfield After a lengthy deadlock Westfield was instructed to redevelop Croydon retail in a joint venture with Hammerson. Record-breaking sales across its sites were a bonus.
The sponsor says
The UK retail environment has been and remains a hugely challenging sector. Despite recent tentative signs of recovery, significant obstacles remain. Knight Frank is proud to sponsor the Property Company of the Year – Retail Award 2013 in recognition of how those shortlisted have embraced the challenges of their market. In working hard with local authorities, retailers and consumers, these leading retail property companies have led the development, redevelopment and investment of new and improved retail and leisure destinations. Their activity has resulted in exciting partnerships and innovative retail solutions that are both well regarded by their communities and sensitive to the environment but that also respond to the requirements of their investors and shareholders. Knight Frank is the leading independent real estate consultancy with more than 330 offices operating across the globe. Our commercial division has a dedicated and growing focus on the retail sector and we remain enthused and optimistic by the activity in the market and would like to congratulate all those shortlisted for this award.
3 PROPERTY ADVISER OF THE YEAR – LEISURE
Sponsored by
Citygrove
Shortlist
The Coffer Group This specialist has tuned itself into the market to respond to shifts in consumer demand and augment trends to its advantage.
Cushman & Wakefield This firm has come to be regarded as the best for visionary solutions for landlords and a go-to for underperforming schemes.
Jones Lang LaSalle JLL was at the heart of the UK’s largest leisure transaction when it advised Land Securities on the purchase of a 59% share in X-Leisure.
Savills Instructions on the two largest sale and leaseback portfolios of the year and regional landmark schemes under its belt makes Savills a force to be reckoned with.
Shelley Sandzer This specialist adviser is at the forefront of the burger explosion, turning Patty & Bun and Honest Burger from street food fare to high street dining.
twentyretail This firm is a contender not least because staff get a day off on their birthday. But a 397% increase in turnover and 92% of new business by client recommendations is also telling.
The sponsor says
Citygrove is proud to sponsor the Property Adviser of the Year – Leisure category. As a whole, the leisure industry has been one of the best-performing sectors of the consumer economy. The shortlisted parties advise a diverse range of clients operating within that sector, and the award recognises the skills of those who have embraced the challenges and opportunities of their market. We would congratulate the achievements of those shortlisted for this award, and wish all the finalists the very best of luck.
4 PROPERTY COMPANY OF THE YEAR – LEISURE
Sponsored by
Whitbread
Shortlist
AEG Europe In a ringing endorsement of its regeneration of London’s Millennium Dome and surrounds, this company secured a deal to deliver a 450-bedroom Intercontinental hotel and the UK’s largest ballroom.
Citygrove Securities Citygrove’s business model of 100% prelet and forward-funded development has proved a defiant rebuff to prevailing market conditions.
Legal & General Property In a well-timed acquisition this year the company made an off-market sale and leaseback purchase of 27 Marston’s pubs for £70m – its first foray into the pub sector.
Marston’s The owner of 2,099 pubs and five breweries nationwide, this company broadened its development expertise and added £170 to the value of its estate.
The sponsor says
As the UK’s largest hotel business, Whitbread Hotels & Restaurants knows what it takes to do great development, deliver outstanding real estate strategies and optimise the value and potential of commercial property. Our success at Premier Inn is based on delivering great locations, value and consistency as we work towards 75,000 bedrooms by 2018. This category recognises other leaders in the sector demonstrating innovation and achievement. Our sector is demanding and fast-moving. Attracting and retaining customers is all important and getting your developments and portfolio to perform is essential. We commend this year’s shortlist who are showing strong performance.
5 PROPERTY ADVISER OF THE YEAR – INDUSTRIAL & DISTRIBUTION
Shortlist
Colliers International This team transacted more than 10m sq ft of space across 300 separate deals over the year, averaging more than one deal for every working day.
Cushman & Wakefield C&W secured the UK market’s largest single letting in five years with the purchase of 1m sq ft for Sainsbury’s at DIRFT – an acquisition 18 months in the making.
Gerald Eve A firm that has gone from strength to strength, not least because it saved clients £200m on ratings bills, notably BAA for its Heathrow Airport estate.
GVA After pulling its talent into one national team, Tesco provided GVA with its first UK-wide instruction, totalling 1.3m sq ft.
Jones Lang LaSalle JLL’s agency team has been involved in 46% of all deals on new logistics space over 100,000 sq ft, including securing M&S as the first occupier for DP World’s London Gateway.
6 PROPERTY COMPANY OF THE YEAR – INDUSTRIAL & DISTRIBUTION
Sponsored by
DTZ
Shortlist
Logicor A key achievement has been the negotiation of an extended lease with Asos.com in exchange for a 140,000 sq ft building extension – a win-win transaction.
Omega Warrington This firm has secured three major occupiers for one of its sites, and another for a £100m regional logistics centre nearby, representing the occupier’s largest European investment.
Prologis UK The firm has taken a huge leap forward with two major investment transactions, including the acquisition of a £247m distribution property portfolio from LondonMetric Property.
SEGRO SEGRO continues to receive praise from pundits after chief executive David Sleath invoked strategies to become the best owner-manager and developer of industrial properties in Europe and a leading income-focused REIT.
The sponsor says
DTZ is proud to be sponsoring the Property Company of the Year – Industrial Award. Despite improving conditions, we know that this has been a difficult market in the UK. Like the finalists in this category, DTZ’s industrial and logistics team have remained focused on delivering excellent client service. We have specifically been using the global reach of our business to increase its work with occupiers. As a result, instructions during the year have been won from a number of major companies including Royal Mail, E-on, Unipart, TNT and UTi. Like our finalists, DTZ has ensured that our Industrial and Logistics team understands in detail the many issues facing companies in this area, thereby enabling appropriate solutions to be proposed. During the year, the award-winning team generated some 6,250 enquiries, and converted one in every 12 of the enquiries into a deal, demonstrating their proactive and tenacious approach to the market. As a result, the team have increased their market share in an otherwise flat market. We congratulate those shortlisted for this award, and wish all the finalists the best of luck.
7 PROPERTY ADVISER OF THE YEAR – OFFICES
Sponsored by
DSR
Shortlist
Cushman & Wakefield A crop of high-level appointments to its London operations marked a bid by this firm to become a top player in the capital. Transacting more than £1bn on behalf of international investors and achieving a 25% market share of the media and tech sector, proves it is well on track.
DTZ Thanks in no small part to innovative working and collaboration with its research arm, the firm’s UK office agency team consistently represents investors occupiers and developers in some of the most high profile deals. Google was just one key instruction, but others span the UK.
Hatton Real Estate This agency faced off tough competition from 10 other firms to win a joint agency instruction from Helical Bar and Cross Tree Real Estate Partners on a 292,000 sq ft office and part retail development at London’s Old Street, consolidating its position as a major force in the City fringe market.
Jones Lang LaSalle The largest 2012 City deal, the largest letting in an existing building in EC3 for 25 years and the highest rents achieved in Soho are merely a few of the achievements this firm has made over the past 12 months.
Knight Frank An integrated international platform has allowed Knight Frank to transact with 25 different nationalities, including on investments worth more than £1bn on the South Bank.
Savills Despite fragile occupational demand, Savills has risen to the challenge, increasing its transactions over the year to 59%, boosting its fee revenue by 22% and increasing its income per full-time fee-earner by more than 10%.
The sponsor says
The UK office market has seen a challenging yet largely positive year. Predictions for 2014 are looking optimistic and there are undoubtedly exciting times ahead. Deverell Smith is extremely proud to be sponsoring this award in recognition of these highly esteemed advisers, all of whom have endured the difficult market conditions while maintaining their positions as true anchors within their market. Deverell Smith is the UK’s fastest-growing property recruitment consultancy with an average annual growth rate of 150% for the past seven years. Servicing many of the UK’s leading property companies, developers, agencies and consultancies, Deverell Smith caters for all levels of seniority and provides individuals on a permanent, temporary, contract and interim basis.
8 PROPERTY COMPANY OF THE YEAR – OFFICES
Sponsored by
Capita
Shortlist
AXA Real Estate Investment Managers This firm’s achievements are defined by the success of Sixty London at 60 Holborn Viaduct. Developed speculatively in 2011, the scheme was eventually let entirely to Amazon, proving good foresight pays off.
Brookfield Office Properties In June 2012, Brookfield’s only investment in London was a 50% stake in a Bishopsgate development. It now manages 1.4m sq ft of grade-A offices and is uniquely placed to offer space suited to almost any central London occupier.
The Crown Estate The Crown Estate has seen the value of its office portfolio increase by 13%, reflecting a strong year for its urban portfolio. It is now committed to no less than eight schemes across Regent Street and St James’s that, once complete, will create 545,000 sq ft of new office space.
Sellar Property Group With a site heavily constrained by a web of underground infrastructure, the Place, all 600,000 sq ft of it, was always going to be a tricky realisation, especially after the Shard, SE1, which was a hard act to follow. But it manifested and now counts News UK as its sole tenant.
The sponsor says
The increasing adoption of agile working practices is leading to an ever more discerning occupier base in the office sector. It is more footloose, more open-minded to locations where space supports a productive working environment. The best space is created by those owners and developers who are placing the occupier at the centre of their thinking. This award recognises the leaders in the office sector in their delivery of the best working environments – tailored design, promoting exceptional environmental practices, user flexibility and supportive of changing technology. To be an exceptional office building we believe the accompanying service must exceed the expectations of its inhabitants. Capita’s Prestige property management service is provided for landmark, trophy or boutique schemes where service needs to be an experience. We congratulate those shortlisted for the award and celebrate their vision and creativity.
9 EG FRONT COVER OF THE YEAR
Sponsored by
Pipers
Shortlist
10 EG LONDON AWARD
Sponsored by
BNP Paribas Real Estate
Shortlist
There is no shortlist for these awards. The winner will be announced on the night.
The sponsor says
In the last 12 months we have seen activity in London continue to amaze, with record numbers of overseas investors flocking to the capital, values rising steadily across both commercial and residential markets and new trophy buildings further populating the London skyline. BNP Paribas Real Estate’s business is strongly focused on London and our partnership with EG London allows us to highlight our expertise and commitment to our capital. Alongside our counterparts in the BNP Paribas Group, we help to promote London by attracting clients from all over the world to this city and by working closely with our UK clients to enhance their London properties. The EG London award highlights the significance and importance of London in the global property market and showcases the huge impact our industry has on the future of this great city. The winner is one who has upped the game for London in the last 12 months and deserves recognition for doing so.
11 YOUNG PROPERTY PROFESSIONAL OF THE YEAR
Sponsored by
Cluttons
Shortlist
Andrew Brentnall, Savills Brentnall flew through a number of promotions from the shop floor to head Savills’ new funding and development team.
George Hudson, GH Space At just 22 years old, Hudson created GH Space with a new approach to office property; a business club with a daytime café, licensed bar at night and a calendar of networking events.
Will Grant, Jones Lang LaSalle Grant kick-started the south-east Asian marketing phenomenon in London when he sold 51 of 57 units at Central Saint Giles for a record £1400 per sq ft.
Jonathan Manns, Colliers International A recognised thought leader, Manns has used his experience at Colliers to publish and speak on development matters in the UK and overseas.
Bonnie Minshull, Savills Minshull is highly regarded for her innovative approach to the business, applying lateral thinking to pitches and promoting the team to prospective clients.
Amandeep Singh, Bansal, Equity Alliance A third-year student and respected individual, Singh has established Equity Alliance to assist high-net-worth individuals from overseas invest in London real estate.
12 PROPERTY ADVISER OF THE YEAR – RESIDENTIAL
Shortlist
CBRE Residential A takeover of EA Shaw transformed CBRE’s residential offering, and at the heat of the tale was Aviva’s Fitzroy Place apartments, Fitzrovia’s first sizeable development for decades.
Deloitte Real Estate In its formative first year, the firm can offer a scale of professional services almost, including work in affordable and student housing.
Knight Frank This adviser has had countless successes, including the sale of London’s highest value London residential development, 20 Grosvenor Square, for well in excess of £200m.
Savills As well as prestigious London instructions, Savills has sold more than 2,500 new builds in the regions, at a rise of 18%, including The Eye in Bristol.
13 PROPERTY COMPANY OF THE YEAR – RESIDENTIAL
Sponsored by
CBRE
Shortlist
Berkeley Group The group’s combined focus on sustainability and placemaking has helped it forge a key partnership with the Wellcome Trust and a pretax profit of 26%.
Grainger Grainger has led the way in the private rented sector with notable achievements including two new innovative housing schemes in Kensington and Chelsea.
M&G Investments By delivering three landmark deals with innovative structures, M&G has helped generate a seismic shift in thinking towards institutional investment.
The sponsor says
In a year when CBRE has continued to make waves in the residential world, we are delighted to be sponsoring the Property Company of the Year – Residential Award. We admire the innovation and creativity all of the shortlisted companies have demonstrated over the last year, through their involvement in some of the biggest and best residential schemes in the UK. CBRE has also been at the forefront of the market during this time, doing some of the most significant land deals, selling schemes in the UK and overseas, and providing development consultancy advice. We are currently working on over 50 developments, so are at the heart of the action. We have got our sights set on another big year in 2014.
14 DEAL OF THE YEAR – BUSINESS IMPACT
Sponsored by
Linklaters
Shortlist
AXA Real Estate Investment Managers AXA Real Estate negotiated a complex web of different investor nationalities, legal requirements and time constraints to acquire London’s landmark Ropemaker Place, EC2.
Bray Fox Smith This firm saw through the transformation of a Grade II-listed purpose-build motor garage in Shepherd’s Bush, W12, into a high-quality office development.
Derwent London Derwent London prelet two of its London sites to communications outfit Publicis Groupe, in what can be considered a resounding endorsement of the developer’s product.
DTZ An innovative disposal method proved an attractive proposition for RBS, for which DTZ completed 96 transactions totalling in excess of 330,000 sq ft, in one of the most substantial deals of the year.
LondonMetric Property The merger of London and Stamford Property and Metric Property Investments created a new top 10 REIT with a combined property portfolio of more than £1bn.
The sponsor says
Linklaters’ real estate expertise combines an outstanding track record and client relationships with global reach. Universally challenging real estate markets followed the insolvency of Lehman Brothers, but some markets and sectors are starting to recover. Clients have had a greater need to ask us to advise on the full spectrum of deals, often across borders. Our team understands the tools and techniques required in today’s markets and applauds the achievements of those who made it onto the shortlist. We are proud to sponsor the award for Deal of the Year – Business Impact.
15 DEAL OF THE YEAR – INDUSTRY IMPACT
Sponsored by
Bray Fox Smith
Shortlist
Argent on behalf of King’s Cross Central Partnership Limited Argent achieved one of the biggest commercial property acquisitions in Britain when Google agreed on a 999-year lease of approximately 2.4 acres of land.
Deloitte Real Estate With the odds against it, Deloitte signed up Vinci St Modwen to deliver more than 3.5m sq ft of mixed-use development at Nine Elms, on London’s South Bank.
M&G Investments The firm’s £125m purchase of private rented units in Stratford provided a blueprint for how large institutions can finance future residential investments during a housing shortage.
Patron Capital By acquiring CALA Homes in a joint venture deal, Patron Capital breathed new life into the premium homebuilder, which achieved profitability for the first time in five years.
St Modwen A development agreement will see St Modwen develop a 2,500-acre portfolio of redundant BP sites which will transform Swansea Bay.
The sponsor says
Bray Fox Smith is delighted to be sponsoring the Deal of the Year – Industry Impact category at this year’s EG Awards. We are especially pleased to be able to do so at the end of a year that many regard to be the turning point in the market for the major property sectors. We think all will agree that the recession lasted far longer than predicted; was far harder than anyone would clearly have liked; but that the market is in a far stronger position than it has been for over six years of seemingly relentless inactivity. As a specialist, partner-owned and run property consultancy, Bray Fox Smith is proud to sponsor this award – one that recognises the achievements of talented market leaders.
16 INVESTMENT FUND MANAGER OF THE YEAR
Sponsored by
Malcolm Hollis
Shortlist
AXA Real Estate Investment Managers AXA has for a second year prevailed as the leading real estate manager in Europe having increased transaction volumes by 18%.
BlackRock A merger seven months ago of the BlackRock UK Property Fund with the RREEF UK Core Property Fund has delivered results with the fund already outperforming on a year to date basis.
Legal & General Property This fund manager continues to be one of the most active investors in the UK, transacting £1.8bn of direct property.
M&G Investments The ground-breaking residential sale and leaseback of 401 units in Genesis Housing Associations’ Stratford Halo development is just one of this firm’s innovations.
The sponsor says
Pressure on fund managers has never been greater, with strong asset management essential to creating value from portfolios during a period where incremental increases are not guaranteed in the way they used to be, even as the market shows signs of recovery. Those who truly understand their assets, identify the potential to add value, assemble the best team, get in just at the right time and manage a timely exit will prevail. All the finalists have shown true market leadership and ingenuity in this category. We wish all the finalists the very best of luck.
17 NATIONAL PROPERTY COMPANY OF THE YEAR
Sponsored by
Savills
Shortlist
British Land A combination of a share placing and the £472m sale of Ropemaker Place, EC2, has afforded British Land attractive investment opportunities, a 0.5% portfolio valuation increase and overall strong financial results.
Crown Estate Through a targeted investment strategy focusing on just a handful of sectors, the Crown achieved a 5.2% increase in profit, a 7% increase in capital value, and the value of its property portfolio surpassed the £8bn mark for the first time.
Derwent London Demand for Derwent’s spaces are strong and vacancy rates are low – the result of a strategy to focus on buildings with reversionary mid-market rents in improving London locations. It returned 39% to its shareholders in 2012.
Muse Developments Muse has taken steps to ensure its schemes can capitalise on market recovery. Landmark funding deals with British Steel Pension Fund and Canada Life have served its reputation for unlocking major regeneration.
SEGRO Having made £985m of strategic disposals in a major transformation programme, the developer has enjoyed sustained corporate activity and a share price that outperforms the market by 7%.
The sponsor says
Savills is a leading global real estate service provider listed on the London Stock Exchange. The company, established in 1855, has a rich heritage and a network of over 500 offices and associates in 45 countries throughout the Americas, Europe, Asia Pacific, Africa and the Middle East. Savills advises private and institutional clients seeking to acquire, lease, develop or realise the value of, prime residential and commercial property in the world’s key locations. In the UK, Savills operates out of more than 90 offices nationally with in excess of 3,000 staff, covering 15 main business streams and over 150 different service lines. Our people combine entrepreneurial spirit and a deep understanding of specialist property sectors with the highest standards of client care.
18 NATIONAL PROPERTY ADVISER OF THE YEAR
Sponsored by
Ordnance Survey
Shortlist
BNP Paribas Real Estate A bold growth strategy has put this firm at the heart of major schemes including King’s Cross and the Shard, SE1, with a 20% increase in turnover.
Deloitte Real Estate The integration of Drivers Jonas means DRE can compete with the “big four” and advise on key schemes such as iCITY.
DTZ In a bumper year, DTZ has advised on schemes with Google, RBS, Nike, Rolls-Royce and Disney and has completed 550 deals for corporate occupiers across EMEA.
Jones Lang LaSalle JLL has been reaping success in a year defined by project collaboration, new concepts, prelets and landmark deals, here and abroad, and all in challenging conditions.
Knight Frank Spanning 48 countries, the firm has engaged globally, including on the £215m sale of a 247,526 sq ft central London office for National Pension Service of South Korea.
Savills Savills’ presence in Asia paved the way for history-making when it sold the landmark Lloyd’s of London Building to Chinese insurer Ping Ang in a £260m deal.
The sponsor says
Ordnance Survey is delighted to continue our support of the EG Awards. This year we are supporting the National Property Adviser of the Year Award, which recognises excellence in the property profession and we look forward to seeing new and innovative approaches. The right location is essential to the majority of businesses; none more so than the land, property and construction markets. Ordnance Survey maintains the definitive geographic framework of Great Britain and is responsible for the surveying, production, maintenance and marketing of a wide range of location data products. This data is relied upon by professionals in both the public and the private sectors. An ever-growing number of companies and organisations are now beginning to understand the significant benefits of using location data to support their decision making.
19 EG OUTSTANDING CONTRIBUTION TO PROPERTY AWARD
Sponsored by
Deloitte
Shortlist
There is no shortlist for this award. The winner will be announced on the night.
The sponsor says
Deloitte Real Estate is proud to be sponsoring the Outstanding Contribution to Property award, one of the most prestigious and coveted awards in the industry. The illustrious roll-call of previous winners, both individuals and organisations, amply demonstrates the outstanding qualities necessary to secure the award. These qualities include the ability to deliver significant changes to the real estate industry, both in terms of impact on the built environment, but also in the way that the industry functions. As the recovery in the UK market gathers momentum, tomorrow’s winners will be those who seize the moment to take a bold approach and deliver true innovation.
The judges
John Burns, chief executive, Derwent London
David Camp, chief executive, Stanhope plc
Paul Clark, director of investment and asset management, Crown Estate
Susan Geddes, managing director – real estate finance, Santander
Bill Grimsey, retail turnaround specialist
Andrew Gulliford, chief operating officer, SEGRO
Ian Hawksworth, chief executive, Capital & Counties
Dan Hughes, sector manager, land and property, Ordnance Survey
Mike Hussey, chief executive, Almacantar
Martin Jepson, president and chief operating officer, Brookfield Office Properties, Europe
Juliette Morgan, Tech City specialist, Tech City
Liz Peace, chief executive, British Property Federation
Rob Bould, chairman, GVA
John Burbage, Burbage Realty
David Coffer, chairman, Coffer Group
Malcolm Dalgleish, chairman – EMEA retail, CBRE
Jamie Eastaugh, head of consultancy division, Cluttons
Alistair Elliott, senior partner, Knight Frank
Guy Grainger, chief executive – UK, Jones Lang LaSalle
Tony Horrell, chief executive, Colliers International
Stephen Hubbard, chairman UK, CBRE
Neil Mackilligin, senior partner, Allsop
Andy Martin, senior partner, Strutt & Parker
Ezra Nahome, chief executive, Lambert Smith Hampton
Richard Owen, managing director, Deloitte Real Estate
Mark Ridley, UK chief executive, Savills
John Strachan, global head of retail, Cushman & Wakefield
Colin Wilson, head of UK and Ireland, DTZ
