London’s place in European and Asian investment was the subjects of two debates at MIPIM this week.
A Wednesday debate aroused discussion over whether London is the gateway to Europe for overseas investors. Brockton Capital’s David Marks, soon-to-be BPF president, said: “It’s the jewel in the crown.”
Fellow speakers included Deutsche Asset & Wealth Management’s James Petit; John Slade of debate sponsor BNP Paribas Real Estate; and Lodestone Capital’s Becky Worthington.
The panel concluded that tax hikes in Paris and liquidity in the market would ensure London’s supremacy for a decade.
On Thursday, a second panel of senior UK property figures sought to extinguish negativity around overseas investment in London, urging naysayers to consider where the capital would be without it.
“International investment is fantastic for Britain, it creates jobs and wealth and it makes the city vibrant. We should embrace globalisation,” said Berkeley Group’s Tony Pidgley.
However, the panellists – including Canary Wharf Group’s Howard Dawber, Residential Land boss Bruce Ritchie; debate sponsor Savills’ UK chairman Mark Ridley; and Capital & Counties’ Gary Yardley – agreed foreign money would swiftly move elsewhere if London neglected to create the right financial climate for investors.
Listen to the debates at
rebecca.kent@estatesgazette.com
