As 2016 draws to a close, we are still waiting to learn whether or not the government has the authority to trigger Article 50 without consulting Parliament. The Supreme Court’s verdict is anticipated in January – but if consultation is required, we’re likely to be in this period of uncertainty for a little longer.
While uncertainty is never welcome, our industry continues to demonstrate resilience in the face of the unknown. Following the state of flux in the early post-referendum landscape, the deal pipeline did not fall off a cliff, as many feared it might. Real estate debt has been comfortably below levels seen back in 08/09 and we have not seen properties pile on to the market needing to be moved on at any cost.
There is no doubt 2017 will bring new challenges, and the changes on the international political scene make predictions for the path ahead trickier than ‘normal’, but the industry has learned lessons from the global financial crisis to cope with whatever 2017 throws at it.
We are looking forward to 2017 with a roster of clients that we are proud to support. Looking back on 2016, we welcomed a run of new names to our books including MEPC for their assets Silverstone Park and Milton Park; Sager Group and Cain Hoy for the Islington Square development; Realm for Prince’s Quay; and development communications for NewRiver REIT plc’s retail development portfolio.
Some of our wider highlights of the year include:
- As part of our remit for Edinburgh St James, we publicised the landmark update that the project secured its investment partner, and demolition has now started on-site.
- Clients Queensberry and Leslie Jones Architecture were in triumphant spirits at this year’s Revo Gold Awards as Friars Walk scooped Gold for New Centre of the Year.
- For Revo itself, 2016 has been a landmark year. We’ve positioned the Chief Executive, Ed Cooke, on Sky News to spearhead the membership body’s lobbying for changes to Sunday Trading legislation and we developed and delivered a communications programme for the re-brand.
- We have seen the topping out of Schroder UK Real Estate Fund and Stanhope’s first office at Ruskin Square in Croydon, not before its pre-letting in full to HMRC as part of the Government Property Unit’s estate rationalisation.
- On a personal note, our very own Danielle, Patrick and Isabel ran LandAid’s 10K fun run in the summer, proving that Redwood can give the industry’s avid runners a run for their money!
- We were then pleased to support LandAid in promoting the #colourincab – with broadcast, online and print coverage of its launch.
- Redwood has also been leading the charge for leadership itself. Our CEO Lucy Close, a highly respected and experienced Leadership Coach, addressed an audience of over 500 executives from across the US financial sector on leadership theory and practice at the AICPA Women’s Global Leadership Summit in Boston.
In times of uncertainty, protecting and enhancing a business’s reputation is arguably more important. Distilling and communicating our clients’ long-term visions is our passion and with a new year just around the corner, now is a key moment to consider what you want your business to be known for as we enter 2017.
With that in mind, we want to thank our clients and industry friends for their continued support. We wish you all a joyful holiday season and a very happy new year.