The Weekly Take from CBRE Wonderwall: Adaptive Reuse and Sustainable Development in Europe
Jul 28, 2025
Steve Skinner, CEO of HB Reavis, Simon Brown, Head of UK Office Research at CBRE, and Alastair Perks, Executive Director at CBRE, dive into the transformation of European real estate. They discuss the shift from new builds to adaptive reuse, emphasizing sustainability and urban renewal. Urban revitalization challenges in London and the post-pandemic retail recovery are examined, along with the resilience of office spaces in the UK market. The trio also highlights emerging opportunities in healthcare and student housing, illustrating vibrant growth amid economic changes.
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Conversion Dominates London Deals
- 90% of the property transactions advised on last year in London involved conversions rather than new builds.
- The city’s smaller grain building stock provides significant opportunities for adaptive reuse and conversions.
Refurbishment vs Redevelopment
- Refurbishment can be more viable today due to high build costs and permitting delays.
- However, refurbishment suitability depends on building layout and should not replace redevelopment where quality suffers.
Sustainability Drives Development Choices
- Sustainability and ESG are top priorities for investors and occupiers in London.
- Clients are open to either new builds or repositioning existing buildings for best performance.