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Demand for commercial space to shrink


 

When it comes to office space it seems that in the future Europe won’t be needing so much of it. Findings by the commercial brokerage, Colliers International, paint a somewhat bleak picture for the future of the humble office as the working population of Europe continues to shrink. It believes the next 40 years will see a reduction in demand for commercial space by up to 20 percent as Baby Boomers leave the workforce and are not replaced. What’s more the style of offices is expected to change with the cellular design favored by Baby Boomers making way for the more open plan offices preferred by both Generations X and Y.

 

The findings will prove interesting for developers, owners and businesses who should take these changes into account over the next decade. Given that the average office has a 20-year lifecycle new commercial spaces should be built with these future trends in mind. Those that aren’t will suffer from higher vacancy, obsolescence and lower rents according to Colliers.

 

And the shrinking workforce will have a different impact across the continent with western, eastern and southern areas seeing the biggest decline in office demand. Northern Europe (including the UK), however, will see continued growth in the number of people working thanks to an increased level of immigration, especially in the UK where the workforce is expected to increase by 2.18 percent over the next 40 years. The trend might also be bucked in Eastern Europe where an outsourcing boom could mean job growth and an increased demand for office and commercial space.

 

For a chance to see the very latest office and commercial spaces on offer throughout Europe head down to MIPIM 2012 in Cannes. While we can’t promise you an office, we can promise you the best hotel rooms, the most sought-after rented apartments and even the odd luxury yacht or two. With our expert knowledge we’ll make sure your stay will be one you don’t forget. Click on this link to fill in our request form.

 

 

Present your company on our blog!

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In an effort to help our clients and potential clients increase their web exposure and networking, we would like to offer you the opportunity to present your company free of charge on our companies’ s web blog.

 

Take the opportunity to leave a short “companies resume” on this blog now!  You can even leave your logo as free advertising there too!

 

Should you be interest, please send us here a short description of your company and anything that may be relevant to the presence of your company at one of our featured events.  Please also indicate if you want us to publish your company’s logo on our website and blog (we need your written authorisation to so) and the web address of your site so we can add a direct link to you from our page.

 

I hope you will find our offer of interest and stay at your disposal if you have any question.

 

France is top dog


France has overtaken Spain as the most popular place for Britons to buy a second home, according to a number of recently released reports. A survey by Savills International claims that in the two-year period between 2009-2011, twice as many houses were purchased in France than in Spain, with the decline in the Spanish housing market highlighted as the main reason for putting off British buyers.

 

While Spain has seen a reduction in demand, other traditionally established and high-end markets such as southern France, Switzerland, the Algarve and Tuscany have continued to see high sales and stable property prices. And despite the overall downturn in Spain, the islands of Ibiza and Mallorca are still seeing high numbers of foreign buyers.

 

Overseas mortgage company Conti backed up the survey by Savills reporting that over the last year 39 per cent of all enquiries have been for France, with Spain coming in second with close to a third. The reason, according to Conti, is that investors see France as an accessible market that is both safer and more stable than Spain, and one that will generate steady returns.

 

But the good news is that Spain is on the rebound. Both Conti and UK house builder Taylor Wimpey claim that enquiries on Spanish property are up this year, with Conti reporting a 7 per cent increase, while Taylor Wimpey says enquiries are up an incredible 45 per cent on their Spanish developments. In fact it is estimated that 100,000 new homes will be sold in Spain in 2011 as foreigners start to take advantage of the housing slump and look to pick up some bargains.

 

So if you’re interested in all the latest residential property developments in both France and Spain, head to MIPIM in Cannes in March 2012. For the best hotel rooms, rented apartments and even private yachts look to EAS for all your accommodation needs. We can also help you with restaurant bookings, nightly entertainment and all your transportation requirements. Click on this link to fill in our request form.

 

London still hot property

With a mere five months until MIPIM 2012, London’s commercial property sector is booming as it continues to be seen as a safe haven for property investors during the European financial crisis. Over the past 18 months it has swallowed up an incredible 39 per cent of the total inward investment into Europe’s commercial sector. That’s a total of £8 billion to you and me, as non-European governments, private equity investors and pensions and insurance funds continue to snap up offices and shops throughout the capital.

What is surprising is that the figure is almost five times that of Paris, which as the next most popular city saw an investment of only ÂŁ1.63 billion. The reason? People are looking away from government debt to other forms of investments that will provide a steady yield. And London does just that, with its flexible lease structures, which means rents can be increased by a higher margin than in other European cities. This outside interest has also helped fuel an increase in new developments throughout the capital, such as the Middle East-backed Pinnacle in Bishopsgate.

The increase in foreign investors has also had an impact on the residential sector as cash rich foreigners buy up the limited number of flats and houses on the market. As a result house prices in London rose by 2.4 per cent in September, with 28 out of the capital’s 32 boroughs seeing a price rise during that month.

If you’re looking to invest in London or other European cities then check out all the latest European construction projects at MIPIM 2012. For accommodation look no further than EAS, your friendly local travel agents. We can provide you with the best hotels, apartments and even luxury yachts right in the heart of Cannes. With our expert knowledge of the region, we’ll ensure that you have the best stay possible. Click on this link to fill in our request form.

Ten things to remember for MIPIM 2012

Here are ten lessons that MIPIM newbie has taken from last week’s conference on the French Riviera:

1.      Pack a sweater

“Cannes” may carry connotations of scorching sun and vitamin D, but this year it was foolish to second guess the weather. The sun may have broken out while I was meeting contacts in the windowless bunker. But overall,  MIPIM 2011 felt closer to Margate than Marseille.

2.      Catch the train again

I heard at least 20 people moan about fog at London City Airport. Another 10 complained about traffic on the last stretch to Cannes. Hop on a Eurostar, then a TGV, and you have none of this bother. Plus, you can grab your first glass of French red during the stopover in Paris.

3.      Over-promise at your peril

One property veteran told me to book only 40% of my MIPIM time as meetings. He was right, because tearing around the Croisette between hourly diary slots is no fun. So next year, more of my time will be spent bumping into familiar faces, having impromptu wine-tastings, and loitering around the London stand with a notebook and a business card.

4.      Tweet clearly

When Coventry City Council brings together private sector partners to fund a two -Michelin-starred inward investment dinner on the outskirts of Cannes, don’t send a Tweet saying: “I’m off to a Michelin** restaurant, courtesy of Coventry.”

More than one charitable organisation got the wrong end of the cinnamon stick.

5.      Stay central

If you have the option to get a city-centre hotel, take it. Standing at the taxi rank for 40 minutes each night to get to my hotel, 20 minutes away, was far from pleasant.

6.      Canapés rarely satisfy

Lamb and red pepper skewers may sound hearty enough, but eating 10 of these miniature kebabs does not constitute a dinner or a lunch, especially when accompanied by the same number of beers.

7.      Pre-iron your shirts

Not only was my hotel miles out of town, it only possessed 20 irons to service 500 apartments, so probably 2,000 shirts in total. Needless to say, with a property conference going on down the road, there weren’t enough irons to go around. On the upside, I now know that the French for an “where is the iron?” is “où est le fer?”.

8.      Don’t be gullible

Rumours abound at MIPIM, and most must be taken with a heavy pinch of salt. I heard last week that 140 people were in custody in the Tchenguiz arrests, that MEPC was being bought, and that the Homes and Communities Agency had begun a firesale of its London assets.  All these were unfounded.

9.      Hold the front page!

MIPIM, I have learned, is a place where the unexpected happens. If a property man was having a heart attack at the Martinez one day, another property man was finding a dead body at the beach on the next. And who could have predicted that the Tchenguiz brothers would be arrested on the Wednesday morning, a day before their legendary yacht party?

10.  Stay up to date at PropertyWeeek.com

I was standing on the Cushman & Wakefield beach trying to persuade a naysayer just how useful our website, PropertyWeek.com, can be.

MIPIM News and events.

During the past 12 months, Poland has been notable as one of the European countries to have best resisted the recession. In 2010, Poland is the MIPIM Country of Honour. A special programme of events and conferences has been put together to place Poland in the limelight at MIPIM, with two sessions on Poland in the official programme of conferences, a special tribute to Polish projects during the MIPIM Awards ceremony and much more to come.

Regions and cities are often the driving force behind the international property business and MIPIM will provide plenty of opportunities to meet senior city administrators and attend conference sessions which will discuss everything from sustainable development policy to social housing. And, for the second consecutive year, MIPIM will host the closed-door Mayor’s Think Tank, bringing together some 70 mayors for discussions on urban development policy.

This year’s programme of conferences is particularly diverse and we are extremely grateful to the senior executives who have agreed to share their thoughts and experience with us in Cannes.

MIPIM continues online

In case you have missed MIPIM 2010 or would like to review the key facts and key figures about our latest edition, you can now enjoy all the event highlights online.

Click here for more details.

MIPIM 2011- Privately owned boats in Port for rental (accommodation and meetings/socials)

Utilize your budgets by chartering our privately owned yachts. Most think of a yacht charter as a huge expense. We have some lovely 2 and 3 berth/cabin yacths located in the Port of Cannes. Rates under 8000 Euros for the event week. Unlike a typical charter, there are no APA fees, berthing or any additional costs, only your rental fee and refundable security deposit. All boat rates include 4 nights. Our selection includes 3 bed/3 bath en-suite and 2 bed/2 bath en-suite. All have areas for small cocktail or meetings throughout your stay. Enquire today.

MIPIM 2011 – Spring Ahead

2011 looks to be a great year for the property market event.  The UK will be the “guest of honour” and more regional stands are expected.  An overall positive vibe after this years event.  Jones Lang LaSalle and Cushman & Wakefield are predicting sizable increases in EU property activity this year.  Get on board!  Exclusive opportunities for privately owned yachts in the Port of Cannes – rates inclusive as well as executive suites overlooking the port.  Location, Location.  Enquire about our other accommodation options and services.

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