The Law Society Gazette quotes Robin Grove on the UK commercial property market
Robin Grove, Divisional Managing Partner of Construction, Real Estate and Disputes, provides comment for The Law Society Gazette feature on the UK commercial property market and how it is fairing against external factors.
The Gazette canvassed the sector’s specialists on how they are juggling the multiple challenges they face – from war and Covid to the legacy of ‘Trussonomics’.
'The weight of largely private capital seeking opportunities to invest means there will be a transactional market in real estate assets, once assets have been revalued. Those needing to refinance or exit to create liquidity recognise that revaluation to the “new normal” is needed and will do so more quickly than previously.’
‘We expect the transactional market to reboot in early 2023, not least as overseas private capital seeks to take advantage of the weak pound.’
On the office sector, Robin adds:
‘The office market remains an essential sector despite the changing accommodation requirements after Covid, and quality, including sustainability, is becoming ever more critical to protect asset value. Integrated teams of transactional and dispute lawyers close to their opportunistic clients will find their teams remain busy in 2023.’
Read the full feature in The Law Society Gazette here.