| Care homes in crisis?
The UK care home sector has been in the media spotlight since almost the beginning of the coronavirus crisis due to problems with PPE supply and the release of elderly hospital patients back to care homes without testing for Covid-19 leading to a surge in both staff and resident infections. And there could be more trouble ahead for the sector, according to a new report from Knight Frank, which says that demand for beds continues to outstrip supply.
The annual UK Healthcare Development Opportunities 2020 research report shows that while the total number of care home places has increased slightly nationwide, crucially the number of beds per 100 people over the age of 85 has fallen by 5 per cent since 2010.
“The UK healthcare industry requires substantial investment in order to keep pace with present demand, let alone the provision that is going to be needed for the future as the population continues to age," says Julian Evans, Head of Healthcare at Knight Frank.
In other coronavirus related news, we look at another two studies focused on the office sector, the first a tenant survey carried out by Equiem which reveals that while a huge 82 per cent of respondents reported to be as, or more, productive while working from home, 45 per cent missed conversations with colleagues. In addition, 56 per cent desired better work setups, 25 per cent wished for better access to home health and wellness options, and 18 per cent needed better access to work-from-home resources.
Health & Safety specialist Arinite's latest research meanwhile, has analysed current UK government guidelines to predict how workspaces will look and operate when employees do return to the office. The division of workforces into separate groups who go into the office on different days to minimise colleague contact, plus staggered lunch-breaks, a huge reduction in business travel, and a subsequent increase in online meetings with both suppliers and clients, plus a switch from open plan to more traditional office layouts, could become the norm, says Arinite.
We also have news of a regulatory development which could have a big impact on real estate investment funds in the UK with an announcement by the FCA of new proposals designed to address the 'liquidity mismatch' in open-ended property funds.
According to real assets specialist Cohen & Steers, as well as minimising the potential damage caused by fund suspensions, the proposals could also pave the way for growth in the UK REIT funds sector. At the beginning of the coronavirus crisis the likes of L&G, Columbia Threadneedle and BMO all suspended open ended property funds due to 'market uncertainty' locking up around GBP11 billion in assets in the process.
"The announcement has undoubtedly paved the way for the REIT funds market in the UK, as we believe that investors who prefer the flexibility of a liquid vehicle are better served by property securities funds which invest in publicly listed real estate companies and REITs that trade intraday," says Marc Haynes, head of institutional business, EMEA, at Cohen & Steers.
And there's plenty of deal activity to catch up on this week too, involving Palmira, Nuveen, JR Capital, Chancerygate, Edmond de Rothschild, and Aviva Investors…
Property Funds World
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