Investment in the UK, Brexit or no Brexit!
There is a lot of uncertainty and some concern as to what the effect might be on various areas of business in the UK following our departure from the European Union, which is almost certainly now going to be delayed past the original date of Brexit on 29th March 2019.
The property industry is one which doesn’t respond well to uncertainty and is often hugely effected by political decisions and changes. It’s remarkable how well the market, generally speaking, has held up overall during the last three years since the In/Out Referendum discussions really began to become real.
Whilst in France on business a couple of weeks ago we visited MIPIM which is now in its 30th year as Europe’s largest property event held at the Palais Des Festivals in Cannes.
MIPIM actually stands for “Le Marche International des professionals de l’immoblier” and hosts over 26,000 people over four days allowing businesses, local authorities and countries to showcase their offer and promote their area in a very sunny setting in Cannes.
Manchester probably has the biggest pavilion, but there many more such as the Midlands, Liverpool, Newcastle and others all being well represented along with dozens of smaller stands too.
We attended the Cardiff Capital Region (CCR) event which promotes South East Wales as a major area for investment and growth and which showcased investment opportunities in the region worth £1.9Bn and highlighted some of the successes the area has had, which include being home to the world’s first Compound Semiconductor cluster and the creation of 550 highly skilled jobs.
We’ve seen the removal of the Severn Bridge tolls, and the re-naming of the Second Severn Crossing to the Prince of Wales bridge, two things we strongly supported and suggested several years ago. The electrification of the railway, beautiful countryside in Monmouthshire in particular and great connectivity are a few reasons why the area is set to growth exponentially in my opinion. We already own land in the area and are looking to expand on this during this year.
Regardless of what the outcome of Brexit is, ultimately life must go on one way or another and people still need houses, businesses still need premises and people still want to do things! Let’s hope the uncertainty settles and we can all go back to thinking about something other than Brexit. Regardless, we continue our search for new opportunities so if you have something you’d like to discuss please contact us.