News and Thoughts

Thoughts on the Real Estate market and beyond.

State of the Nation

27 November 2023

Agents don’t need us to tell them what is going on in the property market currently. Every agent is aware that purchasers are as slow as ever to make a commitment, that banks don’t want to lend, and that getting a response to an email is harder than ever.But in the wider… Read More

Where do yields come from?

24 October 2023

We are reasonably certain that the formula for formulating yields on industrial property was not carried down off the mountain on a stone tablet by Moses. And we are even more certain that there are no government employees bright enough to have dreamed up a secret algorithm for… Read More

Christmas Holidays Anyone?

02 October 2023

It certainly feels like an appropriate time to go off on holiday. Just as at Christmas, when you can take time off without fear of missing out on a deal, so would taking time off now have little impact on dealmaking.There is little enthusiasm being shown by potential tenants… Read More

The exquisite art of Incremental Degradation

04 September 2023

Incremental degradation was once explained to me by way of the analogy of a photocopier.If you copy a document, the copy is marginally less clear than the original. Then if you copy the copy, it is again very slightly fuzzier. And so on. It’s a physical representation… Read More

State of the Market

14 August 2023

The question we are most commonly asked currently is some variation on “where is the market going?”. Rather than launch into a technical response encompassing interest rates, historical trends and the impacts of bureaucratic and political incompetence, it’s easier to just say that… Read More

The complication of simplicity

31 July 2023

Very often reducing problems, or even perceived problems, to their simplest elements enables us to achieve clarity of thinking, and see issues for what they are. Eliminating the superfluous, the decorative and the distracting can enable us to see what really matters. But… Read More

The addiction and scourge of OPM

26 June 2023

The United States of America is home to many strange and seemingly inexplicable things. They call it the land of the free - and then proceed to lock up as many citizens as they can, or otherwise tie them up in endless litigation. And proclaim they champion free trade – and then… Read More

If a tree falls in the woods and nobody is there to hear it, does it make a sound?

12 June 2023

We have all heard this philosophical question. We know that it has nothing to do with sound waves and the physics of sound. The question is merely asking whether the existence of a perceivable thing is entirely dependent on its being perceived. We could go to great lengths… Read More

Changed times call for changed mindset

24 May 2023

Aspects of the industrial real estate marketplace have changed dramatically over the past six months - while other aspects have remained constant. Vacancy rates are still  exceptionally low, but yields have crept up. There are still transactions taking place - but decision making… Read More


15 May 2023

Our latest weekend reading included a piece on “assumptions”. It was primarily aimed at teachers. In the current debate around teachers’ salaries – whether they are adequate, and whether teachers should be paid by performance or longevity – we thought it particularly appropriate. The… Read More

The New Normal

17 April 2023

Until late last year investors in Industrial Real Estate were very used to low interest rates, ample liquidity, low vacancy rates and rising asset valuations. However, much of that has now changed. Thanks to quantitative easing, we have inflation- which has resulted… Read More

All In

11 April 2023

Over the years I have been involved with a number of aspiring entrepreneurs. Often aspiring to leave a role as a cog in a corporate machine, with fanciful notions of what being their own boss might mean. And with dreams of more money and a more “balanced lifestyle”, whatever that… Read More

The good things about tough times

20 March 2023

It would only be those who have been stranded on a desert island (without internet) for the last six months who would not be aware that the industrial real estate market has now entered a very different phase. And that this new phase requires very different attitudes and behaviour… Read More

My New Year Resolutions

16 January 2023

New Year is that time where many of us make rash resolve as to changes we will make to our lives in the coming year. Many of those resolutions don’t last more than a few weeks. Sometimes not more than a few days. It is said that January is the month when gyms have the most sign-ups.… Read More

Happy New Year

09 January 2023

2023 is shaping to be an interesting year for industrial property, with a potential technical recession looming, and predictions of an increasing OCR leading to even higher interest rates. But against that background we still have extremely low vacancy rates, increasing… Read More


13 December 2022

It’s a word we are hearing increasingly of late, and will hear more in the future. It’s a word that we often associate with strength. The strength to absorb pressure; or the strength to fight back against adversity. We are going to need plenty of both of these qualities over the… Read More

Marie Kondo and Industrial Buildings

21 November 2022

We don’t know if Marie Kondo has written about finding joy in Industrial Buildings. But she could well have. We find the Marie Kondo  method applies just as well to the industrial space as it does to decluttering your home.When we set about applying the Expedio philosophy… Read More

It's a tsunami!

07 November 2022

Well, maybe not a tsunami. Or perhaps not even a tidal wave. But over the last few weeks we have seen a very large wave of opportunities coming our way.The number of properties being offered to us is probably 5  fold what it was just six weeks ago. Which means that… Read More