Brave Ideas How Mayfair Capital Is Preparing For The Changing Risk Profile of Office Assets
**Massive THANK YOU to Caitlin Rozario over at Metrikus for giving me a platform to talk about BOLD and being more than just “the podcast guy” (See Part 1 & 2 under resources below)**
James Lass, Head of Special Transactions and Fund Manager at Mayfair Capital, joins Bold Founder Caleb Parker to discuss what keeps Mayfair up at night, how they are dealing with the rapid pace of change in office customer demand, and the changing risk profile of office assets. James speaks candidly about his take on Space-as-a-Service and gives some insight into their future-leaning investment strategies.
Connect with James Lass on LinkedIn
https://www.linkedin.com/in/james-lass-176b1026/
Connect with Caleb Parker on LinkedIn
https://www.linkedin.com/in/calebparker/
If you have any questions or feedback on this episode, email podcast@workbold.co
Value Bombs
- With real estate becoming more operational, it's becoming more of a risky investment, but if this is what customers want today, then not being operational becomes a risky investment – Caleb Parker
- It doesn't surprise me that we saw a big bounce back in numbers coming in. The office isn't dead, it's just continuing to evolve – James Lass
- We know that the occupiers of workspace want greater flexibility and not all of them want to find 20 year leases – James Lass
- It's about putting the end user of our assets front and centre and understanding what they need and then working back from there – James Lass
- If you're not servicing a customer, you're not giving them what they need, then your ability to maintain secure income streams is diminished – James Lass
- As an industry we continue to adapt and find ways of making workspaces more appealing – James Lass
- If the office isn't providing an experience that helps people feel taken care of and be most productive in, then people are just going to stay home – Caleb Parker
- The end user continues to demand more from their building and from the owner which I think that the industry is largely getting their head around – James Lass
- I've always found value outside of the CBD – James Lass
- The starting point for us is we have to be in a position where we can create interesting space – James Lass
- Workspace ultimately has got to be a building that you can walk in and know that you can transform into somewhere that you'd like to spend time – James Lass
- A key part of our strategy is to reuse assets rather than knock them down and start again - James Lass
Resources
- James’ LinkedIn
https://www.linkedin.com/in/james-lass-176b1026/
- Forge Woking Asset
- Caleb’s interview with Metrikus:
Part 1:
https://www.metrikus.io/blog/metrikus-meets-caleb-parker-founder-boldPart 2:
https://www.metrikus.io/blog/metrikus-meets-caleb-parker-founder-bold-2 - Exponential View Podcast with Azeem Azhar
Shout Outs
- Caitlin Rozario at Metrikus
- Anthony Slumbers and Dror Poleg from Real Innovation Academy
- Darren Graver from Wise
- Derwent London
- LETI (London Energy Transformation Initiative)
About James Lass
James joined Mayfair Capital as Head of Special Transactions and Fund Manager in January 2020 from Trilogy Real Estate, a niche developer operating in London and Manchester. Prior to that, he spent 12 years at Schroders where he was Fund Manager for the Schroder UK Real Estate Fund between 2012 and 2018, having previously been the Head of Business Space Investment. He has also sat on the European Real Estate Executive Committee and Investment Committee. James moved to Schroders in 2006 from private practice where he had held investment advisory roles, he worked at Savills between 2003 and 2006 and at Allsop between 2000 and 2003. He is a member of the RICS, Investment Property Forum and British Council for Offices.
Sponsors
Fortune Favours the Bold
Bold merges property management & Space-as-a-Service to drive asset value and help office customers grow faster. Now part of NewFlex (www.workbold.co)
Future Proof Your Portfolio with NewFlex
NewFlex delivers and manages a range of branded solutions for every type of building, in every type of location, for every type of occupier. Including the flexibility to develop your own brand. All enabled by flexible management contracts where we are invested in making money for you. (www.newflex.com)
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