MIPIM 2017: Savills’ Mark Ridley, chief executive officer – UK and Europe, has described the mood at MIPIM as one of “cautious optimism” with renewed investor appetite for the regions and London.
“There’s a little bit of nervousness about European elections, France among other things, but overall people are positive about the market,” he said. “So I’m optimistic too.”
International investors have been asking him about passporting rights and what that means for the City of London. However, he said they were “reassured” that any space vacated by the banking and finance industry is being filled by other occupiers. “Plus, we don’t see a massive migration,” he added. “We’ll see some changes, but I think they are reassured that we’re not going to see a whole-cale relocation out of the city.” International appetite for major regional cities has also been a theme of MIPIM 2017, Ridley said.
Compared with last year, UK institutions are back in the market and circling opportunities in the regional cities, he said.
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