Lucy Cowen (MRICS), Manager, General Practice Real Estate at Cobalt Recruitment comments on the property recruitment market.
As we head into 2016 we are well positioned to fully embrace what we expect to be another year of growth in both the commercial and residential property markets. Throughout 2015 we received instructions from a wide variety of businesses including Consultancies, Property Companies, REITs and Hedge Funds. This reflects the variety of different investors and advisory businesses who are profiting from exponential growth in recent years and who are looking to grow their teams and the services they provide because of this.
The legacy trends of 2015 are expected to continue into 2016 as we see many of our clients actively transacting as a result of the strong macroeconomic conditions in the UK. It is expected that foreign capital will continue to enter into the UK, across all areas of the risk spectrum, with many Sovereign Wealth Funds investing in core, trophy assets in London, and US opportunistic investors acquiring secondary assets and portfolios in the National UK market.
A prominent trend we expect to continue in 2016 is investors’ requirements for analysts and associates to underwrite and perform due diligence on real estate transactions. With the continued onus on investors to provide full due diligence on the properties, many of our clients have been expanding their analyst teams in order to cope with additional workload.
Rising demand for Asset Managers
Within the asset management arena, investors are beginning to realise their returns and capitalise on strong market sentiments and dispose of assets in vintage funds. Assets brought in 2015 will require asset management to deliver the returns promised to investors on acquisition. This is anticipated to balance out and complement the investment activity, in contrast to the very investment heavy focus of last year. Combined, this is expected to show a rise in demand for mid-senior asset managers. In particular, those with more blended skill-sets, which incorporate investment and analysis exposure.
In conclusion, the current market is fertile but competitive. It remains to be seen what effect the current wider global considerations will have on the UK property market but as it stands, we are in an active market with a lot of recruitment activity and clients with strong expansion plans for 2016.
If you are an employer, we can assist with salary and benchmarking surveys to support your business planning, personnel appraisals and pay reviews. Of course we can also secure permanent staff either through retained search, advertised selection or a contingency approach in order to achieve your business plans.
On the temporary side, our Interim team can secure candidates at short notice for fixed-term contracts or interim assignments.
Please contact your nearest office to speak to one of our consultants to discuss the the property roles available or any current recruitment requirements.
You may also be interested in the latest Cobalt Recruitment Estates Gazette Salary Survey