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Real Estate - The World's largest Asset Class


Temple Associates advises a select number of institutional investors and high-net worth individuals on the acquisition or disposal of Real Estate investments.


Blackstone's Jon Gray: Real Estate focus on Logistics and Life sciences
Comment: While sizing up investments in Logistics and Warehouses may be easy the Life Science industry does not need too much space so it may be tricky to find ways to put money to work.
(11 June 2021)

Is a wave of overseas cash ready to hit London Office Market?
Is the trend to home-working going to end and all staff will be again pidgeon-holed in their work cubicles anytime soon? If so one can be quite optimistic for London office values, and also in most other cities. More space per person to prevent spread of infections could even increase the demand for space and mitigate the modest demand reduction that a certain amount of home-working will produce. However, due to Brexit many major corporations, including the finance sector, will operate on a diminished scale in London. Even if it is only a headcount reduction of 10-20% it could put a dent into overall demand for space.
(20 December 2020)

Outlook for Office Properties
The 2.5 percent markdown taken by Britain's Great Portland may reflect the fact that the market is pulled in different directions - short-term negative, long-term positive. The recent news about possible vaccinations that may become available soon does little to clear the outlook. Too much damage has been done to economies and the longer term outlook for working in offices vs. working from home.
(12 November 2020)

Banks may have to brace for heavy losses as commercial property prices plunge
In previous downturns, commercial property loan losses were “heavy” and there are worrying signs that such a trend could be repeated this time during the pandemic-induced slowdown, Oxford Economics’ Adam Slater said in a report

Real Estate Investment in a changed environment must become more like stock picking.  
Just going into the asset class, or individual subsectors such as Offices, Retail etc will not be successful any more. With increased working from home and online shopping it will be essential to pick properties with occupiers that are not so influenced by this trend. (29-June-2020)

City centres 'face desaster' unless office staff return (Sunday Times, 28-June-2020)
Even a small (10-20% drop in occupancy would put a serious dent into profitability - and rental value - of many premises as many costs are fixed and the marginal income from these 10-20% would make or break many a business.

Institutional appetite for real estate investment reaches seven-year high
(Report by Hodes Weill & Associates and Cornell University, 22-Oct-2019)

Buyers are back in London’s prime property market (LonRes Survey, 17-Oct-2019)
Given the low level of interest rates - with no change in sight - it is no surprise that a lot of pent-up demand has built up during the past few years. The number of wealthy people buying in London is going up, not down

London retains global finance throne amid Brexit chaos
London’s financial services sector has grown since 2016 because there is no realistic competitor in its time zone.
.The chief executive of the British division of one of Europe’s largest banks said although some business will move to the EU, most senior bankers will be reluctant to leave London. He would consider taking a 20% pay cut to remain in the city. (Reuters 15-Oct-2019)

£800 Mio Price Tag for London's Ritz Hotel
Given that many quality hotels in city centres of major towns are trading in the $2-300mio range and even higher end hotels are usually well below the $1 mio mark it is remarkable that such a high price is bandied about. Turnover of £47 mio and pre-tax profit of £7 mio in 2018 leave trophy hunters as the only possible buyers.



Heinz Geyer
Managing Director

Heinz was a Co-founder of Temple Associates in 1996 and continues as its Managing Director.

He graduated in Economics and Banking at the Universities of Vienna and Zurich.

Heinz lived through - and survived - not one but multiple market cycles, recessions and market crashes.

Heinz has worked in various positions in Vienna, Zurich, New York and London with Goldman Sachs, Smith Barney, Bank Austria and the Royal Bank of Scotland.

He is fluent in German, English and (rusty) French. He can follow  Swiss German and is working hard on his Italian.

During his years with Goldman Sachs he was the sole author of a widely-read market letter on fixed-interest markets.











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