An intern’s insight: Part two - Hello London
University of Reading real estate undergraduates Alec Linfield and Lee Fitzgerald are undertaking a four-week internship programme at CoStar. In the second of a series of blogs, Alec (pictured left) and Lee report on their time at CoStar's London office working with the Property & Portfolio Research (PPR) team.
This week we were in CoStar’s London office in Portman Square in the West End.
Whereas the Glasgow office specialises in research, the London office deals with several different areas, including sales, marketing and Property & Portfolio Research (PPR) to name a few.
This week we have been working with the Property & Portfolio Research team. PPR is an independent provider of global commercial real estate analysis, forecasts, advisory, and credit risk analytics. PPR was acquired by CoStar in 2009.
Working in Glasgow last week, and then in London this week, has allowed us to see the close link between the research that comes from the Glasgow office and the services provided by the London office. Research from the Glasgow office allows PPR to produce quarterly market reports which are useful to agents and a variety of public and private investors, such as financial institutions and insurance companies.
We started the week by splitting the London market into sub markets including Docklands and City, and Mid-town and West End.
We categorised the companies that had been involved in property deals in London between the period Q1 of 2000 and Q1 of 2012 into their subsequent business sectors, for example financial institutions or business service firms, and whether they were obtaining a new lease or acquiring the freehold interest of commercial property.
Using this information along with other information from the research team in Glasgow such as rent achieved, the amount of space taken up and the total number of deals between 2000 and Q1 2012, we were able to generate graphs to look for trends within the market as a whole and the individual sub markets.
By analysing trends from Q1 2000 up until Q1 of 2012 we were able to understand how the PPR team produce their quarterly reports which also forecast future trends and activity for the use by agents and investors alike.
We have enjoyed our week working with the PPR team and are now very much looking forward to working next week with the sales team, where there will hopefully be lots in store for us, and the readers.
We will update on Friday with our latest adventures.
Alec Linfield and Lee Fitzgerald