FMJ Facilities Management magazine providing industry-specific intelligence to FM and property professionals
Corporate owner occupiers and potential investors, are being increasingly driven by ESG factors and the adoption of post-Covid hybrid working patterns. This is according to the latest issue of JLL’s annual – ‘Raising Capital from Corporate Real Estate’ report – that reveals 2021 was another bumper year for occupier sales despite the pandemic, with corporates generating EUR 29.2 billion across more than 670 disposals.
It marks the third consecutive year in which the total value of corporate disposals exceeded EUR 25 billion. And it came as the sale of industrial and logistics properties raised more than office disposals for the first time.
The report remarks that corporates are looking to divest older offices that are often too big for their occupational needs, and too energy inefficient to support their sustainability goals.
Firms are also rethinking the types of space they need in light of the pandemic and reviewing where their offices should be located to support employee aspirations about flexible working patterns. An increasing number of corporates are also partnering with investors to forward fund new state of the art facilities to better meet their environmental ambitions.
Mark Caskey, Work Dynamics CEO EMEA, JLL, said: “Without doubt, 2022 is the year where corporates will have to act on ESG and net zero targets. An increased focus on sustainability and the adoption of hybrid working patterns is driving occupiers to divest older office buildings that are too energy inefficient or big for their needs.
“Corporates are working with investors to fund new state-or the art facilities that better meet their business and environmental ambitions – as well as the evolving needs and aspirations of their staff.”
Office sales totalled EUR 8.4 billion in 2021, with British motorsport firm McLaren selling its global headquarters for EUR 197 million to sale and leaseback specialist Global Net Lease. Dutch bank ABN Amro sold its headquarters for EUR 765 million to Victory Group.
