UK open for business at buoyant MIPIM

The UK was firmly open for business to property investors from around the world at a buoyant MIPIM last week.

The 2017 edition of the world’s property market, which takes place at Cannes, saw 24,200 real estate and city leaders from 100 countries come together with 5,000 investors and institutions.

While a major topic of debate was how Brexit would impact the market, though, the UK was out in force to woo investors to its real estate markets, both in the ever-popular capital and its growing regional cities.

The British government, spearheaded by the Department of International Trade (DIT), in partnership with the British Property Federation, was sparing no effort to reassure investors that Britain’s real estate sector remains a key destination for investors. For the first time in the history of MIPIM, the UK government had its own pavilion, with the number of exhibiting companies and cities up 24 per cent to 960. With the MIPIM doors barely open, senior representatives from Manchester, London, Amsterdam and Stockholm all gathered on Manchester’s stand to debate the likely impact of Brexit, with Britain’s “Invest in Great” slogan highly visible.

According to Cushman & Wakefield, the amount of new capital available for global real estate investments stands at $435 billion, down from 2016 but the second highest figure recorded since 2009.

Cushman & Wakefield identified the USA as the top target for investors, with China and the UK close behind.

Manchester’s outgoing Chief Executive, Sir Howard Bernstein, said that at a time of uncertainty it was more important than ever for Manchester to promote itself.

Jules Pipe, Deputy Mayor of London, predicted that the UK capital will continue to attract major investment, saying: “Whatever happens, London will come through this.”

“The diversity of projects presented at MIPIM from all around the world is breathtaking,” comments Filippo Rean, Director of Reed MIDEM’s Real Estate Division. “Whether in office developments, retail, logistics, hotel and tourism or residential, the opportunities for investors to strengthen or diversify their portfolios are huge.”

 

Open for business: International MIPIM attendance to be at record high

22nd September 2016

International attendance is expected to be at a record high at this year’s MIPIM, as heavyweight investors set their sights on post-Brexit bargains.

Following the UK’s vote to leave the European Union, agents told us that they had seen a surge in the number of enquiries from international investors, keen to take advantage of the weak pound, which made property in an otherwise stable market more affordable. Three months later, MIPIM UK takes place at London’s Olympia, and organisers are equally optimistic.

AustralianSuper, Fosun Property Holdings, GIC Real Estate, PGGM, Qatar Investment Authority and Teacher Retirement System of Texas are among the investment heavyweights already confirmed to attend the event, which runs from 19th to 21st October, with the organisers saying that attendance of international investors and financial institutions is set to be “higher than ever”.

The MIPIM UK Investors’ Forum (an invitation-only event taking place on the morning of 20th October), will bring together key international and domestic institutional investors to share insights and engage in forward-looking discussions. The overriding theme of this year’s Investors’ Forum is: The UK investment market – key trends & opportunities going forward. There will be a market presentation on the UK real estate investment market, looking at both local and international capital flows into the UK’s real estate sector and regions as well as key investment trends and future opportunities.

One of the Investors’ Forum’s panel discussions entitled Britain’s new relationship with Europe and its impact on UK property investment, will be looking at where the industry finds itself in the property cycle plus Britain’s new relationship with Europe and the consequences for property. Confirmed speakers on this panel include Martijn Vos, Senior Portfolio Manager, Real Estate at APG Asset Management; Asli Ball, Senior Vice President, GIC Real Estate; John Slade, Chief Executive Officer, BNP Paribas Real Estateand Paul Stanworth, Managing Director, Legal & General Capital.

Throughout MIPIM UK, the conference programme will look at what Brexit means for UK investment and where extraordinary returns may be found in these extraordinary times, across all asset classes.

“The strong international presence of investors shows that there is still confidence and appetite to invest in the UK following the Brexit referendum,” comments Simon Rhodes, Managing Director, Reed MIDEM UK. “Since the vote there has been a significant number of high-profile real estate transactions including a $1.3 billion bid for the Grosvenor House Hotel in London from Saudi and UK investors, a show of interest for London sites from Abu Dhabi Financial Group and an increase in Chinese investors looking to buy trophy assets across the UK. MIPIM UK will be the place where the UK property industry demonstrates it is open for business.”

Further information is available on the MIPIM UK website at www.mipimuk.co.uk.

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