The commercial real estate sector makes a significant contribution to the UK economy, underpins job creation and regeneration across towns and cities, and has an important role in realising net zero ambitions.
Unlocking the potential of the commercial real estate sector to increase productivity and improve placemaking is a key to boosting UK regions. Every pound spent in the sector has the potential to generate an almost equal amount to UK GVA, through direct and linked spend and employment.
The RICS Commercial real estate impact report outlines the opportunities commercial real estate brings and we are calling on government and the sector to work together to drive solutions on some of the challenges through policy measures.
“This report emphasises the key role that the commercial property sector currently plays in the UK, as well as highlighting it’s future role in driving forward economic recovery; delivering regeneration and opportunity for all UK communities; and achieving sustainability targets. RICS is committed to building on this important research in partnership with the profession, government and stakeholders.”
Richard Collins, RICS Interim CEO
Published date: 30 March 2022
Regenerating towns and cities:
High-quality and well-managed commercial real estate is integral to levelling up UK towns and cities and contributing to better spaces and amenities for local communities. Every pound spent in the sector has the potential to generate an almost equal amount to UK GVA, so this should be maximised through a strengthened global inward investment strategy.
Contributing to the UK economy:
The UK commercial real estate sector underpins local jobs and business that can make a significant contribution the UK growth. The sector’s contribution is equivalent to 3.3% of total UK gross value added (GVA) and generates 2.5% in tax revenues and the employment of 3.5% of the UK workforce through direct, indirect and induced activity.
Supporting net zero ambitions:
The commercial real estate sector can play can an important role in realising UK net zero ambitions if government strategy and sector collaboration is targeted at decarbonising building stock, mitigating them against changing climate and meeting sustainable investment demand.
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