Description

Basil Demeroutis, Managing Partner of FORE Partnership, a pan-European real estate investor and developer, joins Bold Founder, Caleb Parker, to kick of Episode 1 of Season 4.

Basil shares his passion for sustainability, as FORE will be delivering one the first net zero carbon buildings in London, England.  We learn how FORE becoming a B-corp real estate investor helps their assets solve problems for the C-suite making real estate decisions.

We get to hear the drivers behind CBRE's Hana deal with FORE’s Windmill Green in Manchester, England where they operate a flexible footprint equal to 25% of the asset.

Basil shares why he believes we need to change the way we sell real estate and he says Space-as-a-Service is here to stay while uncovering a new hashtag: #SpaceAsAStrategy

Connect with Basil on LinkedIn

Connect with Caleb on LinkedIn

If you have any questions or feedback on this episode, email podcast@workbold.co

Value bombs

• There is a macro metatrend of consuming infrastructure in a different way that we have before.
• Real estate customers have a layered cake approach to their space requirements. 
  • Instead of taking 20k on 20 year lease - take 10k on lease, 5k on short lease, the rest they infill with SPaaS
• SPaaS is here to stay and will be more main stream than pre-Covid times
• "Not all Space-as-a-Service operators are created equal"
  • There bifurcation between good quality operators and those who are simply providing a room and a desk, no differentiated product. Will go by the way of the dinosaurs
• FORE is delivering the first net zero carbon building in London
  • 20-30% of the asset will be delivered as flex, in partnership with an operator
  • Important to align with the right operator to deliver the asset strategy and purpose
• Bringing in Space-as-a-Service should be viewed like bringing in property management
• Building valuations shouldn’t dictate strategy
• New hashtag: #StrategyAsAService
  • FORE has become a B-corp real estate investor
  • Offering isn’t about ceiling height, windows and sqft, It’s about solutions for C-suite to meet ESG goals
• "We need to change the way we sell real estate"
• The value-aligned approach to consumption is beginning to penetrate CRE
• Space-as-a-Service should think like retail and aim for a ground floor presence
• Expecting all new developments to have some component of Space-as-a-Service and flexibility
• #FlexIsWhereItsAt

About Basil Demeroutis

Basil is Managing Partner of FORE Partnership.

FORE is a pan-European real estate investor and developer that was originally established to invest the funds of billionaire philanthropist and eBay co-founder Jeff Skoll, with a focus on property and driving positive social and environmental impacts.

Basil, who is passionate about sustainable property, brings his early background in engineering and finance, then nearly two decades of real estate investing to align the firm’s investment strategy with their investors’ core values and a wider sense of purpose.

FORE is a family office, and now invests the money of more than a dozen wealthy individuals and families from around the world, who share a commitment to sustainability and social value. FORE is is active in London and key regional cities including Manchester and Glasgow, as well as on the continent over in Germany.

The firm’s main focus is on offices, transforming outdated buildings into modern workspaces that cater for the next generation of occupiers (customers), with a rigorous focus on carbon reduction and positive social impact.

Recently completed projects include Windmill Green, the most sustainable new office building in Manchester (and we’re going to hear more about that shortly). FORE is also bringing forward two sustainable offices in Glasgow as well as a major new project at Tower Bridge, in London.

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