Opening up investment markets
New, job-creating development is driven by profitable exits provided by investment markets, so the easier you make it for a wider pool of investors, the better. And European money has played Ask First Street Manchestera key role in Manchester in particular, German investors in particular. In May, Patrizia Immobilien bought Ask’s First Street, pictured, the latest example of European money continuing to flow, keeping the city on the development track as rivals falter. And for all the talk of Eastern money, it doesn’t always come to fruition. Will Kennon, director at CBRE, observes that despite interest from Chinese and Middle Eastern buyers, “there are still relatively few transactions” as their preferred lot size is the £50m-plus bracket, while locals are more fleet of foot on smaller deals.
Neil Tague’s article from summer last year is ever more relevant now that the EU Referendum has been announced. Tague’s article is extremely well balanced (a rareity now that the opinion has polarised in the wake of the Brexit’s entrance to the headlines).Typically the scare tactics are out in force and the impact of a Brexit on the property investment market remains largely undiscussed.