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Don’t let housing overshadow commercial real estate this Independence Day

EDITOR’S COMMENT So, in just five weeks’ time we’re going to get another new housing minister, a new secretary of state for levelling up (or whatever it may become) and, probably, a new prime minister.
But will we, will real estate, get treated any differently?

Will this be the change that sees the influence that the built environment could and should have on making the UK the global leader it needs to be finally recognised? Will commercial property finally get a seat at the table?

I am ever hopeful that this industry is going to get its messaging right, that the right people in our sector are talking to the right people in government on behalf of the whole industry. And that the needs of the community of real estate will come ahead of any company wants or needs. I am ever hopeful that we will start talking with a single voice about how this industry can help. About how this industry is vital for the success of the country.

And I am encouraged. Seeing Landsec and British Land come together with a single message around planning and development is a good sign. And Landsec boss Mark Allan certainly isn’t letting any opportunity to showcase what real estate needs to enable it to deliver for the country pass him by.

“It’s important that the next government recognises that very few problems are likely to be resolved by adding greater complexity to policy. We need a simpler, more stable framework,” says Allan. “We’ve set out a series of planning reforms that we believe will help to do just that – by reducing complexity, providing the right resource and through a greater focus on bringing forward truly transformative regeneration schemes.”

He adds: “If measures like these are adopted, our sector can meaningfully contribute to creating more growth, more jobs and an improved quality of life for people living and working in urban areas.”

There is already a lot of noise around how, for real estate, this election needs to be about how we finally fix the housing crisis. And while it is right to make that noise, I don’t believe we should let housing dominate the conversation or the campaigning.

Commercial real estate has a huge role to play in stabilising the UK, and that cannot be ignored.

Commercial real estate has an essential role to play in increasing our productivity, be that in creating workplaces that people actually want to be in, developing a powerful life sciences offering that enables the UK to unlock more of our innovative spirit, or creating industrial and manufacturing sites to support this nation of makers.

Commercial real estate also has a powerful role to play in decarbonisation and is already taking action to solve potentially world-ending problems.

Any new government needs to understand that while housing may well be an emotive subject, and still very much a problem that needs fixing, the commercial real estate sector could be its secret weapon in helping solve not just that issue, but so many others that we need to act on now.

UKGBC deputy chief executive Simon McWhirter wants this to the “built environment” election. Writing in EG this week, he says that the general election will be the biggest opportunity the industry has to push for a greener, more equitable and infinitely more prosperous built environment – and our last chance this decade.

“We need to grasp the opportunity and tell politicians that our industry holds many of the solutions to the cost-of-living crisis and articulate how refurbishing our homes and public buildings will benefit people and communities,” he says.

And there is an urgency on this. By the time we have the chance for another general election, it will be close to 2030, a key date for many of our sustainability goals to either be met or be well on their way to success.

So, while the forthcoming election may well fall on Independence Day, surely it’s time for real estate to showcase that, for whoever takes charge of the country next, if they really want to solve so many issues the UK faces, they have a dependence on the built environment to deliver.

Let’s hope that they start listening to and seeing the positive impact that commercial real estate can have on delivering change.

Send feedback to Samantha McClary

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