NEWS Regions gain from rising London market
CONTENTS NEWS
The South East is still the busiest development area, but other regions are making big gains
DATA
Iain Murray of Criterion Capital has a mantra for PRS operators: Life. Style. Choice.
COMMENT Michael Heseltine: lord of the urban jungle New projects that are bringing in investment The fastest-growing region for development?
INTERVIEW THENORTH MIDLANDS
How the award helps the property sector
Barclays’ Gregor Bamert on infrastructure ESTATES GAZETTE MIPIM TEAM:
DofEAWARD MARKET VIEW
Editor, MIPIM Daily Samantha McClary Editor, Estates Gazette Damian Wild News editor Jack Sidders Features editor Emily Wright Regional editor Stacey Meadwell Midlands editor Lisa Pilkington Senior reporter Joanna Bourke Reporters Sophia Furber, Chris Berkin, Amber Rolt, Alex Horne Online editor Karen Day Data editor Nadia Elghamry Special projects editor Rebecca Kent Multimedia editor Nathan Cross Video journalists Paul Yandall, Ben Williams Production editor Stuart Nissen Art director Chris Gardner
FROM THE EDITOR
There’s a danger lurking in the shadows: numbers. They are, according to several speakers over the past couple of days, dangerous. It would be easy to dismiss these fears as a der- eliction of duty, a ducking of accountability. But I have some sympathy. Whether it’s overseas investment, garden cities or housing supply generally, if we get too
hung up on the numbers we’ll miss something more important. On overseas investment, British Land chief executive Chris Grigg said one day it could account for as much as half of all property investment in the UK. Does it matter, if the investment continues to flow? Perhaps not. And it may be counterproductive to focus on origination at a time when the debate around foreign versus domes- tic ownership of residential veers dangerously close to hysteria. Or perhaps more significantly, take garden cities. Should the priority be to deliver a potentially unrealistic 15,000 homes in new
towns? Or should it be to create viable, sustainable and attractive new conurbations where people want to live? It’s the same with the housing debate. Yesterday a panel that
included CapCo’s Ian Hawksworth, Berkeley’s Tony Pidgley and Barratt’s Mark Clare cautioned against getting too hung up on the figures. At a time when the number of housing units needed is disputed (200,000? 300,000?) is it sensible to focus almost entirely on the delivery gap? Doing that, ran that argument, is to set a daunt- ing target that gets ignored. Better to concentrate on narrowing the gap and talk of opportunity rather than problems. Of course, dismissing targets entirely would threaten progress. But at a time when some of the most effective solutions to infrastruc- ture challenges are coming through new ways of thinking (devolu- tion, joint ventures and public-private partnerships), shouldn’t we be taking a similarly creative approach to benchmarking success? DAMIAN WILD, EDITOR, ESTATES GAZETTE
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THEDISRUPTORS 027 The people and companies shaking up real estate
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MIPIM UK IN NUMBERS More than 4,000 delegates attended the
first MIPIM UK at Olympia this week, almost 80% of which had never attended the slightly more sunny event down in Cannes. More than 500 investors were present at the show, with 35 cities and local authorities represented. While the vast majority of those walking through the exhibition hall were from the UK, some 6% of delegates were from overseas. With a focus on the regions, around 40% of those present had travelled to London to take part in the three-day event, which concludes today.
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