COMMERCIAL PROPERTY IN GIBRALTAR
Gibraltar Commercial Property
The past 18 months have seen significant proposed office developments launched to market. World Trade Centre and Midtown are the main players and both account for approx. 27,000sqm of new office space. Both schemes are scheduled to be completed by early 2017 / late 2017 respectively.
Aside from the above we are also seeing the re-development of various Freehold Town Centre buildings converted and re-fitted into HQ offices for particular users.
Demand has clearly increased with the additional pressure of there being no new build in this sector for quite a number of years. Our views on whether there is real demand to meet the forecasted sqm being proposed are met with an element of caution given the substantial schemes in the pipeline.
Moving forward, we take the view that there will be an element of decanting from the older commercial properties into the newer and better designed office schemes, which may affect the bottom line in terms of rates /sqm achieved both in sale and rental.
Fundamentally, it will be the driving force of the economy, enabling it to grow further and attract new business, which we believe Gibraltar will continue to do. We take the view that new modern office options will only serve to improve the commercial offerings in the market and will generate new business
Current Market Rates
| Europort | Europort | High value - Comm | £295 - £340/sqm |
| Leisure Island | Ocean Village | Complex | £325 - £415/sqm |
| Regal House | Queensway | High value - good | £250 - £300/sqm |
| Euroowers | Europort | Amenities | £240 - £275/sqm |
| Leanse Place | Town (South) | Mid end | £240 - £275/sqm |
| Hadfield House | Town (Centre) | Mid end | £230 - £250/sqm |
| 59 Line Wall Road | Town (Centre) | Mid end | £240 - £270/sqm |
N.B These rates are indicticative only and are to be taken as average price ranges in the respective properties.
Please note that the above prices may be subject to condition of units let and whether or not they are internally finished (to high standard & spec) and kitted out for immediate use.
Current Forecasted Rates / Prices for WTC / Midtown
| World Trade Centre | £385/sqm (lease) | £5,000/sqm (For Sale) |
| Midtown | £355/sqm (lease) | £4,250/sqm (For Sale) |
Note that the above are based on existing sales and committed leases at both developments and where figures are given as an average.
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BMI Group is regarded as being the leading estate agent in Gibraltar, with a development consultancy arm that has been involved in over 50% of all New Developments in the past decade
EXPERIENCE. KNOWLEDGE.
OUR ENDORSEMENTS
It's a daunting prospect, you have almost certainly never done it before and you may have no idea even where to begin; so, what is the best way to sell your house or buy a new property? In our humble opinion, the answer lies in BMI Group. Situated near Casemates in modern ground floor premises staffed by trained professionals with easy parking outside the front door, you will be welcomed on arrival by the quiet but gregarious Louis Montegriffo. I found Louis to be thoughtful, caring, efficient and thoroughly knowledgeable about his job with a passion to please that is truly vocational and almost impossible to find in today's modern world. At the first meeting, his penetrating but sensitive questions effortlessly and almost imperceptibly established our core needs and ambitions as a prospective seller as well as our fundamental issues dominating the requirements which we considered essential considerations to be embodied in the new property we were seeking to become our new home. Within weeks he had matched us with a friendly couple who were very interested in our property and who became our eventual Buyer. BMI succeeded where others had failed, their personal interest in establishing and understanding the red lines, sensitive areas and degree of maneuverability and adaptability of our particular case and, indeed, those of the Buyer of our Property, were invaluable. All in all, selling our existing home and buying a new one, far from being the nightmare experience we feared, in fact turned out to be a very worthwhile and valuable exercise in personal relations thanks to the priceless contribution of Louis Montegriffo and the BMI Group whom I have no reservation in recommending to deal with all matters regarding Real Estate and Property Management.
Ernest Britto
OBE ED KMCO
The personal and highly professional service provided by Christine was truly appreciated. A genuine focus on customer service.
Karl Grieves
I would like to thank you Jackie for your assistance during this transaction, it has been exemplary, and I am very happy to recommend BMI to any of my Friends/Family.
Russell Eldridge
BMI offer an extremely professional service from the outset. Jackie and the team delivered from all perspectives of a sale/ purchase process. What seemed impossible many a time eventually came to fruition with their help. I would have no hesitation in recommending their services.
Chris Rodríguez
Good morning Louis
Just a few lines to place on record our deep gratitude to Jackie for her professionalism, enthusiasm, patience and perseverance shown on her sale of our Property at Jumpers
It has indeed been a pleasure working with her throughout
Louis, I would have no hesitation in commenting that she is a tremendous asset to the reputation of BMI
Kind regards
David Benaim
I want to say a big thank you to Christine and BMI for their professional, honest and friendly service. It is much appreciated. I would recommend you and your services to anybody coming to Gibraltar. Warmest regards
Alison McCormick
Lynsey at BMI helped me move from London to Queensway Quay. At all times, she was helpful, energetic, thoughtful and smart. She is a consummate pro and a really nice person too. It is always a delight to speak to her and I know everything is in safe hands when she is around.
Patrick Jay
Wow Jackie thank you so much you have been great to us throughout this whole process. You kept it going even when it got tough! Thanks again. We are so happy here, and our families are over the moon for us. So excellent move all round.
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Ian Martinez
Dear all,
I noted my deposit has been transferred to my account.
Thank you very much for making my life in Gibraltar very pleasant.
If, at any time in the future, I would want to do business again in Gibraltar, I would definitely like to involve you. And of course I would recommend you to anybody who would like to start in Gib.
Kind regards
Hendrik Blom
Dear Louis,
Many thanks for sending me your latest issue of your Magazine. I found that it contained a very thoughtfully composed and positive message. Our own experience over the last year reflects that of BMI. At the end of the day, I think the secret is in delivering results and that is obviously what BMI does very capably indeed.
With best regards,
Charles
Charles Gomez Co
BMI handled the rental of my home in Gibraltar very professional. Not only that they handled the normal contracting of the rental place and the normal aspects a real estate agent would go. They also went the extra mile for excellent customer service taking care of all issues I had as a new resident in Gibraltar. I fully recommend their services.
Wolfgang Reck,
Owner / Founder OTC
When other agents said there was no deal to be done, Louis and his team were able to negotiate with the vendor (and us the purchasers), a deal which satisfied our and their needs. He was able to manage all expectations and understand what was important to all parties in the negotiations, to great advantage for all concerned.
Carlos & Mayte Garcia
The manner in which we were able to view, decide, place an offer and have it accepted within 48 hours is a credit to Louis and his very efficient and diligent team at BMI. I would without any hesitation recommend to anyone whether buying or selling to avail themselves of their knowledge and professionalism within the Gibraltar market place. A first class operation.
Bruno Callaghan
CEO, Callaghan Insurance
We cannot thank Christine enough for the commitment, the generosity, the integrity, the patience, the perseverance, the warmth and the unwavering professionalism. If we had to ever recommend any real estate agent for any purpose in Gibraltar, we would whole heartedly recommend her services without hesitation.
Having engaged agents in many different countries, this has been without a doubt the experience that impressed us the most.
Lirun and Shani Rabinowitz
As many ex pats are aware, the process of finding the right home is key to a successful assignment overseas. I have had the opportunity to work with BMI and specifically Christine Figueras on two occasions; I would recommend them very highly. In particular I liked Christine’s honesty and customer focused approach. I always felt that she had our best interests at heart. Even after finding the house, Chrstine stayed in touch and was always available to help with practical issues.
William Fawcett
CEO St Bernard Assure Limited
On deciding to downsize a few months ago, we thought that it would take several months for our property to be sold. We were recommended to contact Ms Jackie Carlin of the BMI group by a friend of ours. We are glad to have followed her advice. To our surprise, within two weeks, Jackie presented us with two serious buyers, one of which eventually purchased our property.
Jackie has been extremely courteous and helpful throughout the whole process always ready to go the extra mile in order to give us the best possible service! Her help and advice were also invaluable in purchasing our new apartment.
We have no hesitation in recommending Ms.Carlin to any of our friends who intend selling their property or purchasing a new residence.
Kathleen and Albert
In our quest to search for a house in Gibraltar, we have been so blessed to have interacted with BMI. Their service was tiptop and not least the professional advice provided by Jackie and the team. With BMI, it was a flawless and satisfactory journey to our successful house purchase in Gibraltar.
We are really pleased and indeed highly recommend BMI if you are searching for a property in Gibraltar.
Dick & Irene
If you have a property to sell in Gibraltar we would highly recommend BMI, Jackie Carlin and her team. We recently sold our flat in Gibraltar and although we live in the UK Jackie kept us informed at all times and the sale went through very smoothly. We would like to thank Jackie for making it a stress free process.
Judith & Amaresh Chakraverty
Having had the opportunity to work closely with Louis Montegriffo, I would like to commend BMI’s professionalism, drive and determination throughout and, in particular, Louis’ pro-active approach, helping the parties overcome a number of hurdles along the way to completion. I look forward to working with Louis and his team in the future.
Ralph Bossino
Quay 29
We have really appreciated the help of Jackie and her team in finding the apartment that we were looking for. Her advice has been very helpful and the customer service impeccable. Thank you so much for all of your assistance.
Mrs Consuelo de Luna
BMI and especially Jackie Carlin were of decisive help to broker the purchase of a property we had been keen on for a considerable period of time. We are grateful for Jackie’s continued support and perseverance allowing us to now own the place we always wanted. We will certainly involve BMI in any future property activities and highly recommend their services to anybody seeking to buy a property in Gibraltar.
Dr H Koessler
When my family and I were looking for a property in Gibraltar to relocate to from the UK we found that Gibraltar property market information is generally harder to obtain remotely and online. Christine and Maddy were of great assistance in helping find properties to meet our specific needs and provided honest opinions and great advice, BMI is highly recommended!
Kriya Patel
Managing Director, Transact Payments Group
I just wanted to take a moment to give my thanks to Christine and Lynsey! Living in Gibraltar can be a moving adventure and at times very stressful! We have lived in 4-5 different properties in the 3 years we have lived here and have learned allot regarding agents and properties. BMI have been far superior in their approach to taking care of business, property and especially the customer. I was looking forward to meeting Christine because her email correspondence has been friendly and helpful. When she came by to view the rental, she brought Lynsey as well and they were so happy & refreshing! Very professional, but down to earth, knowledgeable and keen to help and listen. Thank you both very much!!!! Very happy customer.
Rose
The best testimonial you can give an estate agent is a referral; here is mine. Louis is, hands down, the most knowledgeable estate agent in Gibraltar. It is a phrase which I find myself constantly repeating whenever I am on the subject of estate agents. For most people, purchasing a property tops the chart as far as financial decisions go. The best way to prepare for that decision is to consider as much knowledge as possible. That's where Louis and his team step in: expert local knowledge, a solid network of clients and access to the vast majority properties on the local market. The BMI team have built up a brand, and it’s not surprising with their wieldy and up-to-date website. We wouldn’t really want to purchase our next place without BMI, and it’s not really surprising, is it?
John Paul Fa
I would not hesitate to recommend BMI. Excellent service and excellent advice. We bought a property valued at circa £1 million. BMI provided valuable insight and information in respect of the property, its proximity and re-sale potential. The purchase of the property is complete, family moved in, all are happy…..
Adrian Hogg
Director, Grant Thornton
BMI are successful as a result of their knowledge of the market, determination and drive to constantly be at the forefront of the industry. Having worked closely with Louis Montegriffo and his team at BMI in a professional capacity on a range of different transactions and on an ongoing basis, I feel safe in the knowledge that clients who choose BMI will be well looked after. Louis, as managing director of the business, has a professional yet personable manner, making him easy to work with and a great point of contact on any aspect of the purchase, sale or rental of property in Gibraltar. His hard-working team are courteous and focused, and always happy to offer advice where needed. In a jurisdiction like Gibraltar, where word spreads fast, an agency conducted in a sincere and efficient manner will ensure its own longevity in the market, with clients who come back again and again.
Sarah L. Miles
Isolas
I’ve been a client of BMI for over 3 years and I’d like to thank Christine and Louis for everything. Christine and Louis were always very proactive, helpful and always came up with a pragmatic solution. I’d like to thank them for that and recommend them as one of Gibraltar’s leading property firm. All the best, thanks for your help.
Elie
I would wholeheartedly recommend BMI and the expert attention in particular of Jackie Carlin. She is a highly professional and efficient ambassador for the company, with superb attention to detail. Her dedication and enthusiasm for her job are evident, she really does go the extra mile. From the valuation to getting an offer on our flat took only days, and there was barely time to get the photos on their website. Her inside knowledge of Gibraltar is a real plus. She then ensured the whole process went smoothly and quickly, taking only 8 weeks from start to finish. All we then had to do was open her card and raise a glass from the bottle of wine she had thoughtfully given us as a parting gift. So here's to you Jackie, Cheers, and Thank You!
Chris Wilson
HR Director & Professor Karen Norman
Thank you to Jackie and the team at BMI for making my recent property sale as stress free as possible. It was a pleasure dealing with them and I would highly recommend them to anyone thinking of buying, selling or renting.
Cindy Glasby
We cannot but praise BMI Louis, Jackie and his team for the service offered before, during and after the sale and purchase of our properties. They always went out of their way to ensure that this became a reality, professionally assisting and going beyond their call of duty in overcoming the hurdles placed before us. BMI would definitely be our first port of call in any future property dealings.
Gerard Teuma
Director of Finance & Procurement GHA
I recently had occasion to be involved in a personal property transaction with BMI. Their professionalism was first class and the support and assistance received throughout was of the highest order. In particular, I was impressed by Louis' unfailing commitment and objective advice in determining what was the best way to proceed at any particular juncture. All in all, an excellent and highly recommendable experience.
Peter Montegriffo
Partner, Hassans
I would thoroughly recommend Jackie Carlin and the rest of the BMI Team to anyone wishing to buy or sell property in Gibraltar. Jackie found me the perfect new apartment and did her utmost to ensure that the purchase went through as smoothly as I could wish for. Despite a difficult market Jackie worked tirelessly on the sale of my old property continually generating interest from a number of potential purchasers. Nothing was too much trouble for her even to the point of personally getting involved with the redirection of mail that had been delivered to the wrong address! All in all BMI provided a dedicated, friendly and professional service which I found to be second to none.
Trevor Heath
I have been a BMI client for 10 years. Buying and selling with positive results. As an investor I am receptive to the opportunities that arise and endeavour to give clear and prompt feedback as to my interest or not. I say it is my investment prowess that delivers gain, Louis says it is the quality of the deals he puts forward! I look forward to doing business with BMI for the next 10 years
Edward Everitt
Property Investor
Louis Montegriffo and his BMI team really do go that extra mile in providing an excellent service to their clients. Their professionalism and dedication ensured that we got the perfect family home at the best price. Nothing was too much trouble for Louis and his team. Through their co-operation and patience with arranging viewings, their friendly and helpful manner during negotations, and their personal and heartfelt congratulations when we finally moved in to our Anchorage home, they made us feel like unique and valued clients. I would not hesitate to recommend their services to my own clients and friends alike.
Peter Young
Hassans
I approached Louis Montegriffo at BMI on the recommendation from a colleague that he was very energetic and creative at finding solutions and at addressing clients' needs. Louis and his team listened and clearly understood my specific requirements and were very responsive to these at all stages. They have certainly exceeded my high expectations and I have no hesitation in recommending BMI for their professionalism in all respects, their proactivity and their client care.
Vikram Nagrani
Partner, Hassans
As a rapidly expanding business, we have placed tremendous demands on Louis and his team to assist us with our business accommodation and residential accommodation for our staff. Louis and team have always delivered and supported us.
Any Haynes
CEO Insurethebox
BMI and, particularly, Louis Montegriffo, were instrumental in the purchase of our family home in 2010. Louis understood our requirements perfectly and came up with a novel proposal, in a development where we had not previously been particularly looking, that involved a part-exchange with another of his clients. Louis' ability to think outside the box, the depth of his local property knowledge and the detailed understanding he has of his clients' needs make him an invaluable port of call for all property requirements. A call to him is not something he forgets immediately he puts the phone down. He archives requests in his mind, searches his lists for anything that might help straight away and, if this is not available at the time, keeps his eyes and ears open for anything that might help down the line. Hats off to him and, indeed, to the rest of his friendly, knowledgeable and helpful staff.
Ian Felice
Partner, Hassans
Being involved with the Gibraltar property market is harder than it is in the UK, information is generally less available and at times the market would appear to be quite opaque. In this situation it is good to have an honest opinion and good advice, in BMI with Louis at the helm that advise is available and appreciated.
Charles Scott
I have had the pleasure of dealing with BMI on a personal and professional capacity for nearly 15 years. BMI are viewed as having an exceptional reputation for sound and honest advice and I must say that my dealings with BMI have always corroborated that view. I am therefore delighted to be able to endorse a company that in my view provides my clients and myself with the level of service that one expects in a growing, highly regulated Finance Centre.
Charles Lavarello
Partner TSN
Moving into the Anchorage has been a fantastic move; both Priscilla and I can't believe how lucky we have been with how everything just seemed to fall into place. A big part was played by BMI, Mr Louis Montegriffo who dealt with us and helped us choose the right flat for us. He was courteous, polite and bang on with the advice he gave us. In hindsight we ended up with possibly the best layout and views. Breathtaking! Nearly two years on we still have most of our meals on our lovely terrace were we enjoy the privileged microclimate of the South district. If we had to do it again we have no doubt that BMI would be the fist estate agency we would go to. THANKS for a job well done.
Henry Sacramento
I have dealt with Louis Montegriffo in a professional capacity for a number of years. I can say without hesitation that Louis has invariably displayed good judgement and integrity and provided trustworthy advice and an efficient service.
James Neish
Senior Partner TSN Law
Anything I can say about Louis and Jackie at BMI would fall short of what they deserve. They have simply exceeded all our expectations in advising us when we sought to move to a larger property. We know that thanks to them we have made the right decision! Louis has always helped us in all our property moves and I thoroughly recommend anyone who needs sound, sensible and impartial advice to go and see BMI.
Nyreen Llamas
Partner, Hassans
You tend not to relocate within Gibraltar too often, so it was important for us that we made the right choice on the best terms. Finding the right property in Gibraltar - be it commercial or residential - requires a deep understanding of the market and strong business relationships play a major part of life on the Rock - BMI have proved themselves to be more than up to speed in all departments
Ed Ware
CEO 32red
Their professional, open and honest advice was invaluable to me making my move from the UK as seamless as they possibly could. Nothing was too much trouble; they are prepared to go the extra mile to fulfil their client's needs, this was demonstrated on a number of occasions, for example, when I was unavailable to allow the relevant service teams into the apartment, the team owned and delivered on this for me. I would highly recommend BMI to anybody wishing to receive a great customer experience.
Chris Willmott
Territories Business Development Director Victor
I have known the Directors of BMI for many years and have witnessed the very successful development of their business. More recently I have directly experienced their involvement in marketing one of Gibraltar's most sought after developments. Their achievement in maintaining a high degree of client interest when the property market was experiencing something of a slow down makes them unique in the field in which they operate. Additionally their extensive local knowledge makes them second to none when balancing purchasers' needs with the interest of developers. The exposure BMI actively give The Anchorage coupled with the outstanding quality of the development continues to place it at the forefront of the local property market. The success we continue to have with sales and re-sales is a worthy tribute to BMI as an organisation.
Paul Savignon
Chairman, The Anchorage
Our association with BMI has been a long and happy one. In all our dealings we have found Louis and his team to be highly professional yet at the same time never too busy take a real interest in their clients. Louis himself has always gone the extra mile to deliver an outstanding personal service - a rarity these days
Keith & Liz Collins
I have dealt with BMI both as a property vendor and as a rental client. My experience on both occasions has been excellent, particularly the level of service, speed of response and attention to detail. I welcomed the opportunity to openly express my thanks to Louis and his team for their assistance and kind advice over the years
Patrick Capurro
Capurro Insurance
BMI have always given me the right advice at the right time, providing me with a service that goes beyond their professional duty. They are passionate in the approach to their work and this is transmitted to their clients. These same clients are counseled all the way providing them with a strong sure base on which to make assertive and sensible decisions.
Frank Hernandez
Gibraltar has a presence which is both imposing and gentle: it is one of the increasingly few places which can still be described as charming. However, a pre-requisite of relocating to a new country is to make good connections, both financial and cultural, and in this regard BMI, through its director, Louis Montegriffo, has assisted us in ways far beyond anything we possibly could have expected.
Royston Capel
Property Investor
I have personally dealt with BMI Group for over 5 years and have found their service to be truly professional. BMI has been a key advisor in both my personal and business property interests in Gibraltar; suffice to say that I am delighted with their advice and genuine interest in decisions that I have taken over the years. It becomes clear that you have found a good partner when an agent seeks to highlight concerns whilst offering solutions; especially in uncertain times.
Michael Carlton
CEO Victor Chandler Int
We have been in the property rental market for several years experiencing the recent uncertainty in the market. BMI have a thorough understanding of market conditions, providing sound and realistic advice, and most importantly, have introduced us to suitable tenants. For these reasons I would highly recommend their rental service.
Janet Dixon
Having worked in the property industry for the last eleven years it has always been an absolute pleasure to work with BMI Properties. They think outside the box and go the extra mile for their clients showing absolute professionalism at all times. Having been impressed with their service through my professional relationship with them they were obviously my first contact when purchasing my home. I was not disappointed and I would wholeheartedly recommend their services.
Colleene Wink
Partner, Hassans
"We cannot speak highly enough of BMI and the service we received from Jackie and her team. They pulled out all the stops to ensure that everything went smoothly with both our sale and purchase, despite a number of hurdles that they were faced with. Their approachable and honest attitude is like a breath of fresh air J We will definitely be using them again in the future and recommending them to our friends."
Sharon Webber
Finance Director FCA ACII
"Dear Christine, Again, may I on behalf of Elizabeth and me say how much we appreciate you and the way you do business. Some people were just trying to sell us properties, you and your team were helping us to buy a home. One approach you reject the other you welcome. We truly appreciate your advice and assistance in our purchase".
Webster Munroe
HNWI
Charismatic, focused and client minded. This is the way I would describe Louis' 1st class service to my clients looking to relocate to Gibraltar. He has exceeded their very high expectations and I am very pleased to leave them in Louis good and professional care. Louis and his team at BMI have also assisted me on a personal property transaction and again their professional and proactive solutions are of the highest order. Worth recommending.
Daniel Rudich
Hassans
We really look forward to living there and thank you very much for your honest, friendly and prompt help along the way. One of the reasons for choosing BMI and this apartment has really been you, because we feel that we are in the best hands with you taking care of the apartment.
Sebastian Kuhnert
My experience with Louis and his team at BMI has at all stages, from purchasing of a new property, its rental and its eventual sale, been excellent. I at all times had the comfort of having a true partner and real estate expert at my side with my own interests at heart. It will only be a matter of time before I will be back for more."
Trino Cruz
I really cannot recommend BMI highly enough. I purchased our family home through them and they were knowledgeable and supportive throughout the process. They found the perfect property to suit my family's requirements and guided me seamlessly to the hoped for conclusion.
Paul Astengo
Finance Director FCA ACII
Hi Louis, Just wanted to thank you for all your help in getting everything over the line. Contract with tenant is now signed and hopefully they will be moving in soon. Appreciated your support and guidance and of course well done for finding us such a good tenant and for not charging us an arm and a leg! Many thanks
Joyce Newman
I have just put my son on a plane back to UK to finish his degree and now have a moment to take a breath!!! You made my trip to Gibraltar. I really enjoyed meeting you both, and I thought it was amazing how you read and interpreted my needs. I now have to settle down and make some decisions about timing etc. As I see it I am thinking of renting from about February next year. I would like to try 3 months, but probably happy to sign up for 6. I loved the first little place you showed me and would definitely go for something like that. Once I have some definite dates, I will give you a shout and we can start looking in earnest. I enjoyed Gibraltar and think once I have lived there for a while, I will have a clearer picture of whether I want to buy there. I think it is a place I could enjoy and it seems that I might even be able to find a job there. In any event I will be in touch with you. Thank you so much for your help - it was invaluable and much appreciated. speak soon and please give my best to Jackie.
Judy Martin
I would wholeheartedly recommend BMI and the expert attention in particular of Jackie Carlin. She is a highly professional and efficient ambassador for the company, with superb attention to detail. Her dedication and enthusiasm for her job are evident, she really does go the extra mile. From the valuation to getting an offer on our flat took only days, and there was barely time to get the photos on their website. Her inside knowledge of Gibraltar is a real plus. She then ensured the whole process went smoothly and quickly, taking only 8 weeks from start to finish. All we then had to do was open her card and raise a glass from the bottle of wine she had thoughtfully given us as a parting gift. So here's to you Jackie, Cheers, and Thank You!
Chris W., HR Director & Prof. Karen N.