r
deliver more homes to support an increasing population in the capital. The government must send a strong signal about investing in essential and economically productive infrastructure, which includes transport and housing.”
Dan Bayley, central London managing director, BNP Paribas Real Estate “Although the UK has been
suffering from economic turmoil
since 2008, London is resilient and its commercial property investment market remains strong. The continued uncertainty in the eurozone makes the capital a magnet for investors. “From an occupier perspective, we are
seeing encouraging leasing activity, particularly with some larger transactions in and on the fringes of the City. Several significant deals are in the negotiation process, which will lead to strong take-up figures in the second and third quarters of this year, inevitably reducing the overall availability of grade A stock. These deals mainly involve TMT
explains. “It’s easy to think of London versus other cities but I don’t think that should be the case; Birmingham, Leeds and Manchester should all have greater fiscal control.”
companies such as, for example, advertising agencies and publishers.”
Maxwell James, chief executive, Quintain “According to Grant Thornton and the ICAEW, business
confidence has risen for three
consecutive quarters, reaching its highest point since Q3 2010. Expected profit growth is also increasing, though it has yet to achieve its pre-recession average, and companies continue to slowly raise head count. Importantly, the regrowth of confidence is gradual rather than dramatic, which should cushion the impact of any negative economic news. “All of this is good news for the London property sector, which remains the powerhouse of the UK and is perceived globally as a major financial and cultural centre. Growing business confidence means greater attraction for international business, which in turn feeds the London residential, retail and leisure property sectors.”
While the UK government may be
starting to veer in that direction, there seems to be little appetite to cap spending on consumption. And that raises the spectre of Travers’ favourite
8 June 2013 EG
LONDON FORUM
IN ASSOCIATION WITH
The EG London Forum debates key topics affecting the capital each month. To watch the video specials, go to
www.estatesgazette.com/eglondon
bogeymen: “The danger is that national politicians become forced to make a decision and they end up doing something that would be disadvantageous to London.”
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