CAPITAL WATCH

Mix Today’s places People have always loved a mix of uses around them: residential can happily sit alongside commercial and educational, which can all be served by retail, food and beverage operations. One of the best examples of this is Industry City in south Brooklyn, which combines light industrial, office and retail in a truly compelling way. Of course, a mix of uses does not have to be permanent, and a rolling programme of events and temporary amenities and uses bring life and vigour to a place – good examples being the Holi festival at Battersea Power Station featured on our front cover, and Elrow Town (the hugely popular Barcelona party brand) at the Olympic Park, reappearing next summer. A few years ago, the word ‘millennial’ rose to stratospheric prominence – the new generation that would think in a completely different way and value different things. However, it soon transpired that millennials were not in fact so different from the generations that had gone before, in terms of what they wanted from their surroundings. In terms of workspaces, the most common complaint from new entrants to the job market in recent years has been the lack of ability to concentrate in an open- plan environment – coupled with not particularly liking the “your office as a children’s playground” design. So much for that. Good placemaking should be comfortable with human nature. The appearance, ubiquity and subsequent near-disappearance of the word ‘millennial’ says it all; there is hardwiring of the human condition, which endures over fads and short- term trends. That means, amongst other things, that placemaking should focus on lightly applying new technology to these inter- generational wants and needs – rather than redesigning people from the ground up. For many years, London has been one of the most liquid Gateway Cities in the world, and over the last four decades the shape of property ownership in the capital has changed markedly. Beginning with the increased influence of institutional capital (pension funds and insurance companies) and continuing. How have we arrived here? And what does this ownership trend mean if we look forward to 2030? Health Human beings have always wanted to be healthy as a rule – and health has come to be seen as more and more of a concern for workplace environments. Health can of course mean many things, not just physical wellbeing: thankfully it is now being acknowledged that good mental health is key. The environments that succeed will be the ones that address this by offering ample places to exercise and contemplate, especially for an ageing population. People have always loved a mix of uses around them: residential can happily sit alongside commercial and educational, which can all be served by retail, food and beverage operations WhoWill Own London in 2030? THE HOT ISSUE By Andrew Hawkins, International Partner, London Capital Markets andrew.hawkins @cushwake.com CUSHMAN & WAKEFIELD CUSHMAN & WAKEFIELD 06 LEAD ARTICLE 07 THE HOT ISSUE

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