Precise and trustworthy valuations are fundamental for achieving success in each real estate investment.
The Valuation and Advisory Services department (CBRE Valuation S.p.A), is an independent company within the CBRE group, providing its clients with valuation and strategic advisory services for a wide range of real estate properties. We provide valuation of all types of commercial real estate: offices, retail and industrial property but also housing complexes, land and high end luxury residential estate.
The team boasts particular expertise in the recurring valuation of real estate portfolios for institutional clients and property companies (over 60 real estate funds and portfolios of listed and unlisted companies), as well as in the performance of advisory services. The valuations performed by CBRE are recognised - and generally accepted - by the leading ratings agencies, by CONSOB (Commissione Nazionale per le Società e la Borsa - Italian Securities and Exchange Commission) and by the Bank of Italy.
With the services offered by the Valuations Department of CBRE Italy, we are equipped for carrying out high quality valuations that help our clients to take the right real estate decisions. We hold a position of leadership in the Italian market, together with extensive resources and a deep knowledge of the market.
We understand the business needs of our clients. A large number of commercial and investment banks, listed and non-listed funds, institutional investors, multinationals, private/public client and governmental agencies have used our services to satisfy their business needs. CBRE knows that many of its clients need fast and safe information in order to take strategic decisions. That is why we employ our knowledge and experience in order to apply agile and effective procedures in the gathering and analysis of data. This is a process that enables us to add value and collaborate as an integral part of our clients’ business teams. Our advanced technology, together with our resources for obtaining market information, helps our clients to take more competitive decisions. Our information comes from reliable and complex sources and is backed up by the most complete database of commercial and residential properties.
Our surveyors are familiar with fields such as economics, law and architecture. Many of them are certified by the Royal Institute of Chartered Surveyors. With CBRE, you benefit from our local knowledge and our international approach.
Valuation analysis. According to the client’s needs, we carry out complete or summarised valuations
Valuation for portfolios, loan security and initial public offerings, for M&A and securitisations
Regular valuations for Real Estate Funds
Valuation for large multi-phase developments
Valuation for NPL and financial lease Real Estate properties
Market analysis: market studies are carried out for the office, industrial, residential, hotel and leisure sectors, giving a general idea of demand and supply
Consumers’ confidence continued to be positive in the first quarter of 2018, outlook is positive as well.
Consistent pipeline with over 300,000 sqm expected to open in 2018.
Rents for prime units in shopping malls are rising both in Milan and Rome, to 940 Euro sqm per year and 960 Euro sqm per year respectively: this confirms the growing polarization between prime and non-prime malls.
Rents are continuing to rise in the high street sector, with Milan reaching 7,000 Euro sqm per year and Rome 6,800 Euro sqm per year.
Investment demand for malls is contracting, especially as an irrational response to a widespread fear for dead malls originated in the United States.
The investment volume in the first quarter was up of 35% compared to the same period of last year.
In Q1 2018 take-up was approximately 82,000 sqm, net absorption was positive.
Protagonists of the quarter were the large deals (>10,000 sqm concentrated in the peripheral areas and the hinterland.
The most important negotiations concluded during the quarter involved a colossus in the automotive sector who leased new office space (10,000 mq), a foreign entity operating in the education sector which has occupied around 12,500 sqm and a logistics operator that leased 13,000 sqm.
The vacancy rate was down, coming in at 11.4%, confirming the trend of the previous quarter.
The prime rent of the CBD was also higher reaching 560 Euro/sqm/year. The prime rent in the Centre was also up at 400 Euro/sqm/year;
The pipeline for the next two years remains buoyant, with around 271,000 sqm with completion scheduled by the end of 2020.
The volume of investment in the office sector contracted compared to Q1 2017; it excludes investments involving buildings with mixed use which in the quarter attracted around 200 million euro.
L’assorbimento trimestrale si contrae di circa il 50% sia rispetto al trimestre precedente che rispetto allo stesso periodo dello scorso anno.
La dimensione preferita dagli operatori è inferiore ai 5.000 mq, prevalentemente per esigenze di copertura dell’ultimo miglio.
Il letting di immobili esistenti guida l’assorbimento del trimestre, con il 70% del take-up.
Canoni prime stabili a 55 Euro mq anno sia a Milano che a Roma.
I 3PL si confermano essere gli utilizzatori principali, seguiti dagli operatori di e-commerce.
Prosegue il trend positivo di contrazione dello sfitto, con il vacancy rate che sfora la soglia del 4%.
Prosegue la compressione dei rendimenti anche nel primo trimestre dell’anno, intorno al 5,6%.
L’area più dinamica si conferma Milano: il 73% del take-up risulta compreso nelle aree core e greater di Milano.
Con poco più di 300 milioni di Euro investiti, il settore della logistica mostra nel primo trimestre una crescita del 75% rispetto allo stesso periodo dello scorso anno. L’e-commerce inizia a guidare anche gli investimenti.