Getting over ‘Regrexit’ - Post Brexit Real Estate Opportunities

Getting over RegrexitPost Brexit Real EstateOpportunities

13th July 2016

Bruce DearHead of London Real Estate

The World of the Unexpected…

Eversheds LLP | 01/05/2023 |

Eversheds LLP | 01/05/2023 | REPG Partner Away Day

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Plans!?

"Any plan beats no plan" Timothy Geithner - 2008

“The prime minister should have had a plan“

Iain Duncan-Smith - 2016

"Any plan beats no plan" Mark Carney - 2016


Canaries and Reasons to be Cheerful

− Be thankful for the Great Financial Crisis of 2008

− Most investors dislike uncertainty

− The canaries are coughing

− Austerity is Posterity!


Opportunities

PR engagement - not just with the obvious suspects

Product Provision for People

Remaking the Regulatory,

Business and Legal Landscape


Over correction as values declineMispricing

REPG Partner Away Day

*

* Not the worst performing Sterling…


SterlingEffect on inward investment…

Weak sterling

Low interest

rates

Falling prices

*If they believe the UK story…


Private equity• Uncertain economies

bring higher yields• Higher yields bring

private equity houses• If they believe the

long-term UK story

Build to Rent• Vital part of US and

European housing solutions• High land prices and

Help to Buy held it back• BTR’s big moment?

Patient Capital• Government may not

be spending• Patient institutional

capital• Public sector must

create investible propositions• Keynsian Conversion

London market• Buyers’ market?• Declining occupier

demand?• Passporting and

relocation issues

Housing• Government policy was

to support the market• Some price correction

likely

Distressed opportunities• A more conventional

downturn than 2007/8• Insolvencies, pre-packs,

loan to own• Development and

valuation risk

Getting over ‘Regrexit’ - Post Brexit Real Estate Opportunities

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Transcript of Getting over ‘Regrexit’ - Post Brexit Real Estate Opportunities