The relationship between property and politicians is better than it ever has been as politicians are “looking past the old image of the property developer”, an industry veteran has said.
Recently retired Jeremy Newsum, who was an executive trustee of the Grosvenor Estate for 25 years, believes there are some “pretty shocking” property people in the industry who “sometimes had the loudest voice”, but is reassured that “the prominence of individuals has given way to the culture of organisations”, and the industry has risen in the estimations of government as a result.
Newsum, who started at the firm as a graduate, and also had a stint as the chief executive of Grosvenor Group Limited, the urban property arm of the company, added that industry bodies such as the RICS are helping politicians “trust property people better than they ever have done”.
He said: “My personal view is that we need to get better at getting the message across about the work the industry does, and make sure its voice is heard by politicians.
“We should also be holding politicians to account in an informed way, asking them to provide a longer-term view when they propose new policies.”
Newsum has played a key role in Grosvenor’s evolution from a 300-year-old property company into an organisation with diversified interests. It has a property and fund management business, managed alongside food and energy investments, and alongside that the Grosvenor family’s art collection.
“Grosvenor is very conscious of its history and the 300 years ahead. It’s a safer organisation where long-term view is ingrained, and that also means that at times you put aside short-term gain because you believe long-term gain will be greater.”
Newsum plans to spend his retirement pursuing creative interests.
To send feedback, e-mail Rebecca.Kent@egi.co.uk or tweet @Writer_RKent or @estatesgazette
