Andy Pyle, Head of UK Real Estate for KPMG, joins Bold Founder, Caleb Parker, to chat about valuing Space-as-a-Service income streams within real estate assets.
Andy believes the Space-as-a-Service mindset is going to end up being 100% of the real estate market.
He says Covid has driven corporate occupiers to ask why they have offices, and many occupiers will give space back to landlords via break clauses, defaults or at lease events.
Therefore a lot of space will need to be repurposed to meet the demand of what people want.
This means real estate is becoming a business to consumer proposition, and the capital markets need to get their head around valuing the income streams generated through the multiple service layers of the Space-as-a-Service Model.
In this episode you're going to hear how KPMG values Space-as-a-Service assets, why Andy believes service drives retention and value, and how re-purposing retail assets as Space-as-a-Service can not only save retail landlords, but also support local entrepreneurs and spur job creation.
Connect with Andy on LinkedIn
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If you have any questions or feedback on this episode, email email@example.com
About Andy Pyle
Andy is Head of UK Real Estate for KPMG, and is responsible for overseeing all of the firm’s services to Real Estate clients. He leads KPMG’s transaction advice to fund managers, direct investors and corporates on large and complex real estate acquisitions and disposals, particularly portfolio deals or where assets are sold in corporate structure. He is a chartered accountant and has significant experience as a reporting accountant on real estate IPOs and capital market transactions.
With 25 years of professional experience, of which the last 18 have been as a full-time transaction adviser, as you can imagine Andy has advised a number of investors who have bought and sold real estate assets in the UK and Europe across the diverse range of sectors, including commercial office, retail/shopping mall, industrial/warehousing/logistics, residential, self-storage, student accommodation and serviced office sectors covering both development and investment assets. He has advised on some of the largest transactions in the European real estate market.
You may have seen Andy on stage at one of our industry’s top conferences. He regularly speaks on the impact of tech disruption on the real estate sector. Speaking of tech Andy leads the Technology & Innovation Working Group for the British Property Federation and was placed 6th on the LendInvest PropTech Powerlist.
If you’re on Twitter, go follow Andy. He’s @AndyJPyle and he often challenges our industry with thought provoking commentary that’s landed him on Duke Long’s Top 100 Commercial Real Estate People You Must Follow On Twitter.