CAPITAL WATCH ISSUE 1 2018

THE HOT ISSUE COVER STORY PAGE 03 PAGE 08 ALTERNATIVES PAGE 12 PAST, PRESENT, FUTURE PAGE 34 Shoreditch SPOTLIGHT ON... PAGE 11 Capital gains – the winners and loser of the local elections LONDON IN FIGURES PAGE 21 London’s tech scene IN CONVERSATION PAGE 25 With Theo Blackwell, London’s Chief Digital Officer LONDON DNA PAGE 19 Elephant & Castle: Authentic & dynamic Risk, communities and PropTech VILLAGE LIFE PAGE 39 Clerkenwell ROUND-UP PAGE 10 London at a Glance How tech has powered up London’s success #TRENDING PAGE 30 Down the garden path • Student accommodation • The central London private healthcare market • Self storage Welcome What’s Inside Richard Pickering Head of Futures Strategy, Editor of Capital Watch richard.pickering@cushwake.com Find us online: cushmanwakefield.co.uk/london Twitter: @CushWakeLDN Photography page 25-29: Tom Campbell Design: Ascend Studio Welcome to our June edition of Capital Watch! We’ve timed the launch of this edition to coincide with London Tech Week, celebrating creativity, talent and innovation in London’s tech scene. Over the past five years, tech has become of incredible significance to London’s property market and industry. As well as being the sector driving large-scale office requirements, it is also helping to change both the form of property and how we do business. Known from the start as an innovator in the design of workspace, the tech sector can also largely take credit for the emergence of one of the biggest real estate trends in recent years: office as a service. From humble roots in co-working facilities for tech start-ups in the East End to the major disruption that WeWork (‘a tech company’) is now having on the market, tech is reshaping the built environment. Meanwhile PropTech is now starting in earnest to deliver vehicles for change in how we manage and transact real estate assets. We discuss these and other issues in the pages which follow. As well as technology, we also look at Alternatives, a real estate sector that has witnessed considerable form of late, and a category from which new mainstream sectors might soon emerge. Finally we take a look at the development of Shoreditch and Elephant & Castle. As always, drop me a line if you’d like to discuss any of these topics further. Richard CUSHMAN & WAKEFIELD