2015 A Review
15 Dec 2015
A year ago we were in pre election mode and it added a bit of uncertainty at the end of a busy and successful 2014 for Stiff+Trevillion. Few predicted the 2015 election result, and few would like to predict the prospects for our industry over the next twelve months either. As I wrote at this time last year, the property market is still booming, costs are rising, procurement difficult and fees are still being squeezed, and this seems set to continue well into 2016, but there are some darker clouds on the horizon which we should all watch carefully. The global economy will be impacted by US interest rate rises, the Chinese slow down and the tumbling price of oil. A slowdown in inward investment from overseas will inevitably have an effect on our industry in the coming months.
But in the meantime, it has to be said 2015 has been a good year for us. The studio has been physically expanded by 25% and we have grown to 50 people. This has allowed us to welcome more people into the management structure, and we have created a new tier of Senior Associates and expanded the Associate level with six new Associates.
The studio has completed several buildings and interiors this year, Westbourne House for The Alchemi Group, 201 Borough High Street for The Office Group and 131 Sloane Street is reaching Practical Completion as I write. As predicted, the office sector has surged as the residential investment sector cools off and the shortage of quality office space pushes commercial rents up.
We have completed a refurbishment of Russell Square House, 54 Brooks Mews, and office fit outs for Cadogan Estates, Trafigura and Landsec. Restaurants have been busy too, completing our first restaurant for Rick Stein and, further openings for Relais de Venise, Ippudo and Jamie’s Italian among others. We have designed and opened three art fairs this year, Art Central in Hong Kong, Art 15 at Olympia and Sydney Contemporary. All this alongside our vibrant private residential work that continues to produce beautiful family homes.
We have won some awards too, including an RIBA regional for Queens and The International Design Award for Westbourne House.
In 2016, as well as Sloane Street, 55Victoria Street, Optima Valentine Place and 20 Eastbourne Terrace will complete. 15 Bishopsgate, our first new building in the City is on site, and 40 Beak Street is due to start in January. Two other City projects will be on site at Cannon Bridge House and Love Lane, and 62 Paul Street will start in earnest in January.
So there is a lot to look forward to and a lot in the pipeline, I am sure 2016 will start as busily 2015 has ended. I hope the same is true for all of our client’s colleagues and friends.