MIPIM UK to discuss Brexit effect on overseas investment

A survey conducted at MIPIM earlier this year suggests nearly half of overseas investors will continue to put their money in to the UK after Brexit, while over half will slow it down or stop investing altogether.

The survey of 60 leading institutional who together manage over $600 billion in real estate assets, was published to mark the launch of MIPIM UK 2017, which takes place in October 2017 at Olympia.

Nearly half (46%) of the investors, who gathered at RE-Invest Summit at MIPIM Cannes in March 2017, said they intended to continue with the same level of investment in UK property following the triggering of Article 50, which began the process of the UK’s withdrawal from the EU.

However, the survey, undertaken by KPMG, found that 44% of respondents said their organisations would slow down investment in the UK, while 10% said they expected to stop investment altogether.

Respondents said Frankfurt (23%) and Dublin (22%) were likely to be the main beneficiaries of Brexit.

Now in its fourth year, MIPIM UK organisers say the event will reflect this shifting landscape – both the threats and the opportunities – in its theme “UK Real Estate: The Next Chapter”, with the content of the programme exploring the profound and far-reaching impact the changes will have on the industry.

MIPIM UK, which runs from 18-19 October at London Olympia, targets leading real estate decision-makers operating at a national, regional and local level in cities throughout England, Northern Ireland, Scotland and Wales.

London Borough of Ealing and Old Oak Common and Park Royal Development Corporation are both attending, as part of the London Stand at MIPIM UK, along with London Borough of Kingston and the Greater Thames Valley from close to the sub-region.

Ronan Vaspart, Director of the MIPIM events said: “The survey demonstrates the continuing strength of the appetite among global real estate investors for opportunities in the UK real estate market, despite ongoing economic and political uncertainty, and highlights issues that will be explored in detail at MIPIM UK in October.

“The issues and challenges the UK is facing, alongside the opportunities, will be explored in depth during MIPIM UK, which brings together investors, developers, local authorities, government and leading figures from across the property industry. Amid all the uncertainty there is incredible opportunity and this dynamic makes MIPIM UK more relevant and essential than ever,” noted Ronan Vaspart.

MIPIM UK conference sessions will provide analysis and debate of key issues, including infrastructure, regeneration, housing, the aging population, urban logistics, retail investment, the future of the workplace, innovation and proptech.

Andy Pyle, UK Head of Real Estate at KPMG, said: “What Brexit means for the real estate sector remains unknown long-term, unfolding day-by-day. That’s why there is a vital need to be prepared for the unexpected. Uncertainty naturally has an impact on the industry’s attitude towards investing in the UK, but these attitudes also vary by investor, the origins of capital, investment strategy and the stance on Brexit.”

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