Research

Research

Our market-leading research capability allows us to incorporate strategic insights into every stage of the investment process.

Top-down forecasts of global markets and economies mean we can offer strategic advice to our international clients while local market forecasts and thematic recommendations help drive performance at the portfolio level.

We have an excellent team of experienced researchers, all with different areas of expertise, covering Europe, Asia and the US. Each has a substantial level of depth and breadth across the property market and, most importantly, a proven history of accuracy. Rather than follow consensus, the team try to get ahead of the pack, giving our investment teams the earliest advice possible. The team produces detailed macro and micro level forecasts on a quarterly basis whilst also updating our investment teams on changing market conditions and risks every week.

Read our latest research

 
Alice Breheny

Alice Breheny

Global Head of Research

Alice's biography
We have an experienced and fully integrated research team, which constantly strives for innovation in analysis to ensure our research and advice remains as commercially relevant as possible.
Alice Breheny

Alice Breheny

Global Head of Research

With over 18 years’ experience in property research, Alice is Head of the Global Real Estate Research team. She manages a team of several analysts devoted to researching the direct property market in Europe, the US and Asia.

+442037278122 More about Alice
Harry Tan

Harry Tan

Head of Research, Asia-Pacific

Harry is responsible for providing strategic advice to the corporate business and clients, with respect to the Asia-Pacific market.

+6569140027 More about Harry
Melissa Reagen

Melissa Reagen

Head of Research, Americas

With 12 years of experience, Melissa leads a team of research and strategy professionals focused on the US direct real estate market.

+12129166643 More about Melissa
Stefan Wundrak

Stefan Wundrak

Head of European Research

With 14 years’ experience in real estate research, Stefan oversees all research across Europe, including the UK, within the global research function. He specialises in global logistics and focuses on the German, Italian and Nordic markets across all sectors.

+442037278226 More about Stefan
Michael Keogh

Mike Keogh

Director of Research

As Director of Research, Michael is responsible for forecasting economic and property markets across the world, analysing long-term property trends, investment and economic cycles to project future performance and output.

+44 (0) 20 3727 8160 More about Mike
Andy Schofield

Andy Schofield

Director of Research

Andy has over 16 years of experience in real estate research. He advises fund managers on acquisitions, disposals and developments, with particular responsibility for the office sector across all markets.

+442037278203 More about Andy
Angela Goodings

Angela Goodings

Associate Director of Research

Angela is an Associate Director of Research, focussing on global retail markets. She is responsible for forecasting out of town retail property markets across the UK and Europe, and also specialises within the outlet mall sector. Angela advises fund managers on major retail acquisitions, disposals and development opportunities. She has progressed through the Research team since joining the company in 2003.

+442037278147 More about Angela
Haoran Wu

Haoran Wu

Research Analyst

Haoran models real estate and economic data to build global views of real estate market and forecast performance. A large part of her role is supporting the head of Asian Research as this area of the business grows.

+442037278231 More about Haoran
Shannon Wright

Shannon Wright

Senior Director, Strategy & Research, Americas

With 16 years of research experience, Shannon is responsible for providing investment analysis and strategy research for the global real estate investment management team.

+12129166340 More about Shannon
Title Region Sector Author Abstract
THINK Europe: Picking Tomorrow's World Cities Europe Alice Breheny In our latest research report, we advocate a city-level approach to real estate investment, in light of our longer-term research findings relating to global ‘megatrends’.
Think Europe: Don't let the past mislead you tomorrow Europe Stefan Wundrak In our latest research report, Stefan Wundrak (Head of European Research) cautions against using historical data to shed light on future performance.
THINK Global: Outlets Asia-Pacific
Europe
UK
US
Retail Alice Breheny Designer outlets have been one of the most widely misunderstood, but strongest performing, real estate sectors in Europe over the past decade and, relatively speaking, they thrived during the global economic downturn.
THINK GLOBAL: Finding the MAGIC US
UK
Europe
Asia-Pacific
Other
Debt
Industrial
Mixed
Multifamily residential
Office
Retail
Alice Breheny In our latest research report, we provide an assessment of the global investment environment for 2014. This serves as a foundation for the investment strategy of our newly formed organisation.
Southern European Shopping Centres Europe Retail Andy Schofield ​Andy Schofield and Stefan Wundrak (Directors of Research, Property) authored our latest research report, released at Expo Real, on why institutional buyers are returning to Spain and Italy, seeking to pinpoint the trough in the cycle.
Think/Value-Add: Secondary by nature but with the potential to deliver prime returns UK ​​When arguing the virtues of value-add/good secondary property in the UK, it has felt at times like one is swimming against the tide. Perhaps understandably, investors recently have been largely risk averse and extremely nervous to take on any added stress. But the truth is, within the context of property, the term ‘secondary’ is often seen as a dirty word, which for those investors with an eye for bargain, means it remains overlooked. With greater upside potential on the pricing front, it would be remiss to ignore a significant chunk of the market still unloved by the majority.
Think/Retail Warehousing: Clicks 'with' bricks UK Retail Angela Goodings ​The changing nature of the UK retail market has been well versed with numerous articles written about online retailing and the ultimate impact on our physical stores. Angela Keane (Associate Director of Research, Property) explains how the term clicks ‘versus’ bricks has been transformed to clicks ‘with’ bricks to highlight the growing popularity of a multi-channel approach.
Think/US Apartments: Touchdown to healthy long term returns US Henderson has been a long term investor in the US residential market, convinced of the sector’s stable high income led performance and the ability to function robust capital appreciation through good asset management. In recent years, given wider market financial uncertainties and a global hunt for yield, capital allocations to the apartment sector have risen significantly, from a growing pool of investors, attracted by its historic strong return performance. Real Capital Analytics (RCA) recorded US$85bn of transactions in the apartment sector in 2012, exceeding that of the office sector for the first time, with the subsequent improvement in cap rates contributing to the NCREIF Property Index, reporting a sector annual return of 11.2%.​
In our latest "Think" report, Michael Keogh (Senior Investment and Economic Analyst) provides a detailed update on the US Apartments sector.
The foreign investor's guide to Swedish retail Europe Retail Stefan Wundrak This guide provides investors who are unfamiliar with the Swedish market, an introduction into the country and its retail sector and sets out why we believe it offers an attractive opportunity for long term, risk averse foreign investors.

We have adopted an innovative, two–pronged approach to top-down analysis, capturing both structural megatrends and tactical real estate fundamentals, to identify "future-proof" cities. This process has involved analysing cities' data, which can be explored in the map below.

 

Cities analysis