The Financial Times was delighted to present the 11th Annual FT Property Summit, organised with the support of Grosvenor. This event brought together global investors, occupiers, lenders and developers and discussed the opportunities and challenges that faced the real estate market post Brexit. At this summit we highlighted major prospects in the sector and debated key trends that shaped the industry then and in the future.
FT Property Summit 2017
Martin Wolf CBE
Canary Wharf Group
British Property Federation
With the support of
Founding Law Firm Sponsor
"The one essential property conference of the year."
"Excellent opportunity to get a range of insights into the property market."
"The best event of the year to date."
"Very informative and insightful views of current issues of the day."
After the UK’s decision to leave the EU and the result of the UK general election that followed, the consequences on the economy remained unclear. The property industry were forced look at ways to leverage the opportunities and tackle the challenges that ensued. The weakness in the pound was boosting confidence in investment inside and outside the capital, while uncertainty remained within the financial sector and whether there was a need to relocate to continental Europe. Meanwhile, technology, globalisation and the changing environment of occupiers were reshaping how buildings, retail and leases were being made and used.
In an era of high political risk should real estate play a larger role in the Brexit negotiations? Has the UK’s investment market lost it’s appeal? Where is the money coming from and why? Can co-working continue to grow at its current pace? What does that mean for traditional office landlords? What role is data and technology playing in shaping the property sector and what does the future hold for our cities commercial and residential prospects?
Keynote Speaker (1)
Martin Wolf CBE
Martin Wolf is Associate Editor and Chief Economics Commentator at the Financial Times. He was awarded the CBE (Commander of the British Empire) in 2000 “for services to financial journalism”. He was a member of the UK government’s Independent Commission on Banking between June 2010 and September 2011. Mr Wolf is an honorary fellow of Nuffield College, Oxford University, Corpus Christi College, Oxford University and King’s College, London. He is also an honorary professor at the University of Nottingham. In 2014, he was made a University Global Fellow of Columbia University, and a Senior Fellow in Global Economic Policy at its School of International Public Affairs. He is a member of the International Media Council of the World Economic Forum.
Mr Wolf has been included in Foreign Policy’s list of the Top 100 Global Thinkers. He has won the Wincott Foundation senior prize for excellence in financial journalism, the RTZ David Watt memorial prize, the Journalism Prize of the Fundacio Catalunya Oberta (Open Catalonia Foundation), Commentator of the Year at the Business Journalist of the Year Awards, the “Ludwig-Erhard Preis für Wirtschaftspublizistik” (“Ludwig Erhard Prize for economic commentary”), and “Commentariat of the Year” at the Editorial Intelligence Comment Awards. The Society of American Business Editors and Writers recognised Mr Wolf in its Best in Business Journalism competition. He has also won the Ischia International Journalism Prize and the Overseas Press Club of America’s prize for “best commentary on international news in any medium”.
His most recent publications are Fixing Global Finance (Washington D.C: Johns Hopkins University Press, and London: Yale University Press, 2008 and 2010) and The Shifts and The Shocks: What we’ve learned – and have still to learn – from the financial crisis (London and New York: Allen Lane, 2014). Mr Wolf was educated at Oxford University. He has honorary doctorates from Nottingham University, Kingston University, Macquarie University, the London School of Economics, Warwick University and KU Leuven.
Sir George Iacobescu CBE is Chairman and Chief Executive Officer of Canary Wharf Group, a company with assets of approximately £7.8 bn which has developed 16.5 million square feet in 33 buildings. Currently the company has under way another 11m sq ft of development in various stages delivering another 36 buildings including a major 6m sq ft extension of the Canary Wharf estate to the east. The Canary Wharf Estate is internationally recognised as the largest and most successful inner city regeneration project in the world. Over 30 years, a derelict dock has been transformed into the second largest banking and business services centre in Europe with high quality office accommodation, over 300 shops, bars and restaurants within five retail malls, including the new opening of Crossrail Place, plus 20 acres of landscaped open spaces. Canary Wharf has a working population of over 120,000 people, larger than the City of Cambridge and larger than the financial centre of Frankfurt.
Recently Canary Wharf Group has completed work on 20 Fenchurch Street (the “Walkie Talkie” building) in the City of London and has started construction on the mixed-use 7 building redevelopment of Southbank Place, the former Shell Centre in Waterloo.
Once complete the Canary Wharf estate will encompass some 25m sq ft of offices, more than 4,000 homes including significant numbers of directly rented apartments, and over 1m sq ft of retail. Increasingly the estate has become a leisure and retail destination as well as a centre for technology and other high growth businesses.
He is a former member of the Board of Trustees of the British Museum, and was founding Co-Chairman of Teach First. Sir George is Vice Patron of the Royal British Society of Sculptors and a Council Member of the Royal College of Music. He is a fellow of the Royal Institute of Chartered Surveyors and a member of the Institute of Directors. He also serves as a Board member of a number of other charities and the Chelsea and Westminster Hospital Development Board.
Sir Iacobescu became Senior Vice-President of Olympia and York responsible for the Canary Wharf project in London in 1988, taking the role of Deputy Chief Executive of the newly-formed Canary Wharf Group in 1995 and then Chief Executive in 1997. He additionally took on the role of Chairman of the company in 2011.
He was born and educated as a civil engineer in Bucharest, Romania before emigrating to Canada. His work in construction and development outside the UK has included residential developments in Montreal, First Canadian Place in Toronto, the Niemans Marcus Building in Chicago and the World Financial Centre (now Brookfield Place) and Battery Park, both in New York. Sir George was Construction Director and then Vice President of Olympia and York, then the largest property developer in the world, from 1978-1988.
Sir Iacobescu has been involved with a large number of charitable, community and business organisations as well as public service: He currently serves as a member of the Mayor of London’s Brexit Advisory Group, and as a Commissioner for Lord Michael Heseltine’s Thames Estuary Commission. He was previously appointed by the Secretary of State to the Defence Reform Unit in charge with the reorganisation of the MOD. He a member of the Advisory Board of the UK Academy of Finance and of TheCityUK, and is a Director of London First.
He was knighted in 2012 by Her Majesty The Queen for services to charity, community and the financial services industry in the New Year Honours list. He had previously been appointed Commander of the British Empire (CBE) in 2003 for services to regeneration and inward investment. He is a Companion of the Chartered Management Institute, an appointed member of the Royal Institute of Chartered Surveyors, an Honorary Freeman of the City of London and an Honorary Member of the Worshipful Company of Lightmongers. He was awarded an Honorary Doctorate of Business Administration (Hon DBA) from the University of East London.
Melanie Leech joined the British Property Federation as Chief Executive in January 2015, following nine years as Director General of the Food and Drink Federation. Her role is to champion UK real estate and to promote a long-term, sustainable partnership between governments and the sector to deliver a high quality built environment, and to create wealth.
She previously held roles in the Department for Culture, Media and Sport, the Office of the Rail Regulator and the Cabinet Office having joined the civil service (HM Customs) in 1988. She began her working life as a Police Constable in the Metropolitan Police Service.
Ms Leech is Chair of the CBI Trade Association Council and a Fellow of the RSA. In 2015 she was awarded a CBE for services to the food and drink industry.
Stephen Hubbard joined CBRE in 1976 and is Chairman of CBRE UK. He is a member of the UK Management Board. He has been involved in much of the Cross-Border Investment activity around Europe. He has developed through this work a detailed knowledge of all the principal global investment markets and an understanding of the drivers behind capital flows. He works with a number of key domestic and international clients on their investment strategy, both in the UK and Europe and the rest of the world. In addition, he continues to advise directly a number of clients on direct transactional work both in the UK and around Europe. In addition to his CBRE roles he is also Chairman of the London Business Network, whose stakeholders are the CBI, London First, The Federation of Small Businesses and the London Chamber of Commerce. He is also on the Chairman’s Advisory Board of Redevco, the pan-European property holding company of the Brenninkmeijer Family; is a Non-Executive Director of Workspace Group Plc; Chairman of LXI REIT plc and a Director of Cockwells Modern & Classic Boatbuilders.
Toby Courtauld, 49, has been the Chief Executive of the listed property company Great Portland Estates plc since 2002. He is a past President of the British Property Federation and sits on its Board and Policy Committee as well as the Board of the New West End Company. He graduated from Cambridge University in 1991 and has spent all his professional life in commercial real estate. He is also a non-executive director of the fine wine exchange, Liv-ex and a member of the Council of Imperial College London.
Chief executive and founder, Mark Dixon is one of Europe’s best-known entrepreneurs. Since founding Regus, the flexible workspace provider, in Brussels, Belgium in 1989, he has earned a formidable reputation for leadership and innovation. By understanding the way that globalisation, personal mobility and digital technology have enabled new ways of working, he has overseen the growth of the business across the globe.
Today, IWG (International Workplace Group) is the global leader in the fast-growing Workspace-as-a-Service (WaaS) sector. It is the owner and operator of internationally renowned brands including Regus, Spaces, Signature, Open Office, Kora and MOS, providing local and global networks for all kinds of businesses. Operating in over 1,000 towns and cities across over 100 countries, the Group has diversified to meet the changing ways the world works today.
Prior to Regus Mr Dixon established businesses in the retail and wholesale food industry. He has received many awards for enterprise and is widely acknowledged as one of the pioneers who revolutionised the way business approaches its property needs with his vision of the future of work. He recognises the importance of nourishing an entrepreneurial instinct and has spoken all over the world to young entrepreneurs.
Peter Miller is the Chief Operating Officer (COO) of Westfield in the UK and Europe. He joined Westfield in 1994 and has since held senior roles across the Australian and UK divisions. He led the establishment of Westfield's development, design and construction capability in Europe including the successful delivery of Westfield’s first major retail and leisure developments in Derby and London, before being appointed COO in 2009. Westfield Corporation is one of the world’s leading shopping centre companies with iconic retail destinations in London, New York, San Francisco and Los Angeles among its portfolio of 35 centres with a portfolio value of £24bn and a development pipeline £7bn. Westfield Corporation is listed on the Australian Stock Exchange and was created in June 2014 when Westfield Group separated its Australian and New Zealand business from its international operations.
Mr Miller is on the Global Executive Committee for Westfield Corporation and is responsible for Europe’s two largest retail destinations, Westfield London and Westfield Stratford City which together attract 70 million shoppers annually, generate over £2bn in sales and attract the best UK and international retailers. Peter is also responsible for the £3.5bn+ development pipeline which includes the expansion of Westfield London and Westfield Stratford City, as well as new centres in Croydon and Milan. He has been critical to driving the success of Westfield’s mixed-use developments in the UK. In addition to retail, Westfield has created new offices and has plans to deliver 4,000 new homes, making Westfield one the largest UK residential developers.
Westfield’s global strategy is to own and operate iconic shopping destinations in leading cities that offer the best in fashion, food, leisure, events and entertainment. Under Mr Miller’s leadership, together with the San Francisco-based tech business, Westfield Retail Solutions, the company has been in the vanguard of digital transformation in the sector and continues to explore solutions that enhance the customer and retailer experience. He has over 25 years’ experience in the retail property industry.
Craig McWilliam, FRICS, was appointed to the Grosvenor Britain & Ireland Board in 2010. In 2013, he became the Executive Director responsible for the London estate, having previously had charge of all development activities off the London estate. In January 2017, Craig became CEO of Grosvenor Britain & Ireland. Prior to joining Grosvenor, he was a Managing Director at Fortress Investment Group. Craig is an Honorary Fellow of the RICS, a Trustee of LandAid and a Director of London First. He also sits on British Property Federation’s Policy Committee and is Vice-Chairman of the Westminster Property Association.
Charlie Green is Co-CEO of The Office Group (TOG), which he founded in 2003 with Co-CEO Olly Olsen. He is responsible for the growth and real estate side of the business, identifying and acquiring new buildings and leading the construction and delivery of the schemes, working closely with architects and driving the design of the space. He and Olly Olsen continue to work closely together to ensure that the design, both form and function, remains paramount to the success of each building. The culture, direction and strategy of the business is very much driven by the combination of Mr Green and Mr Olsen and their shared vision for TOG, the product and it’s ambitions to change the way we are all working.
In 2003, Mr Green and Mr Olsen had a shared vision to challenge the traditional serviced office market with a design led offering that addressed the changes that were being seen in how people were working. He started his career in commercial agency, qualifying as a Chartered Surveyor at Colliers International, on the graduate rotation programme. He then left to join property company MWB Group Plc, working on their serviced office subsidiary.
Richard Donnell has been with Hometrack since 2005. His extensive knowledge of the housing sector spans over 20 years and he’s widely regarded by the industry as one of the UK’s foremost housing market commentators. He leads on data strategy and leveraging Hometrack and ZPG Plc data to generate insights on the most important aspects of the housing and mortgage markets for ZPG’s partners. He sits on a number of property and finance working groups and advises businesses, Government and regulators on emerging trends including the Investment Property Forum’s residential steering committee. Before joining Hometrack, he was a Director at Savills plc for 11 years.
BNP Paribas Real Estate has appointed Fiona Hamilton, who has 25 years’ experience in the retail sector, as Global Head of Retail for International Brands to assist and drive its international strategy. The former Scottish Business Woman of the Year joins BNP Paribas Real Estate on 16th of November 2015. She will be reporting to Etienne Prongué, Head of International Investment Group (IIG) at BNP Paribas Real Estate. Fiona and her team at BNP Paribas Real Estate will provide strategic advice to international retailers, using their unique expertise and experience to help leading global brands with their pan-European retail operations, providing a joined-up platform and point of contact for retail expansion. At BNP Paribas Real Estate, Ms Hamilton will continue to work on master planning advice and retail strategy for major transport hubs. The appointment marks a return to the UK retail scene for Ms Hamilton, who has spent recent years running JLL's Transport Airport and Global Infrastructure (TAGI) Group. She has an extensive retail resume, which has seen her work with some of the largest international retailers and iconic shopping centres. She founded and ran her own retail consultancy, Hamilton Glen, for almost 20 years (making her the first woman in the UK to set up her own niche practice), until it was bought by King Sturge in 2008. She joined as an equity partner and ran one of King Sturge’s northern offices until 2011, when King Sturge merged with JLL. During her career she has also provided strategic and master-planning advice to numerous local authorities on retail-led regeneration schemes and she helped secure one of the UK’s first ever Tax Increment Finance backed schemes.
James Lowery led the strategic inception, concept development and subsequent launch of Storey, British Land’s new flexible workspace product. With a background in strategy consulting and civil engineering, he originally joined the strategy department at British Land before moving over to focus on Storey. He is a Chartered Civil Engineer with a MEng from Imperial College London and MBA from London Business School.
John Miu is the Chief Operating Officer at ABP in London, with the brief to transform Royal Albert Dock into London’s next business district. Construction has already begun on the first phase of this £1.7 Billion development with completion planned for the first quarter of 2019 and with 70 per cent of the first office buildings already sold to international investors.
Mr Miu joined ABP in 2011 and was appointed as personal executive to the global chairman and coordinated the company’s London project from concept through the rigorous OJEU European procurement process and successfully led the process in London for ABP to acquire the Royal Albert Dock site in 2013. He was appointed COO and drove the company’s activities and built the team responsible for delivering planning approval, funding and the start of construction. He is now responsible for ensuring delivery of the project in the years ahead. He works extensively across the UK, Europe and Asia.
David Montague has been Chief Executive of L&Q since February 2008. He has been with L&Q since 1988 and served as Group Director of Finance before his current appointment. In 2013 he was elected to the NHF board and awarded a CBE for services to housing in London.He is a member of the g15 which represents London’s largest housing associations providing homes for one in ten Londoners and one quarter of all new homes. The g15 is working to solve the housing crisis by delivering good quality, affordable homes of all types. Until recently he was chair of this group for a two year period. In this capacity he was also a member of Sadiq Khan’s Homes for Londoners Board. Mr Montague is a Fellow of the Association of Chartered Certified Accountants and a Fellow of the Royal Institute of Chartered Surveyors. He writes and speaks on housing issues and publishes regular blog posts on L&Q’s website. He is L&Q's most senior lead champion for equality and diversity issues. This includes being an ally of our lesbian, gay, bisexual and transgender staff and residents network.
Jon Di-Stefano joined Telford Homes as Financial Director in October 2002 playing a significant role in establishing initial relationships with the Group’s banking partners and institutional investors. Jon became Chief Executive on 1 July 2011 and since his appointment he has overseen significant profit growth and increasing shareholder value. Supported by the rest of the Board he is responsible for the Group’s strategic direction including setting the land buying strategy, the approach to risk management and all other long-term business planning. Jon has also led Telford Homes’ emergence as a prominent build to rent developer in London.
Catherine Cook is a Partner in Clifford Chance's UK Real Estate team. She has significant experience in commercial and corporate real estate matters advising both domestic and international clients having worked both in the UK and the Middle East. Her work includes direct and indirect investments, joint ventures, portfolio sales and acquisitions, re-structuring transactions, sale and leasebacks, new HQ lettings for corporate occupiers and developments.
Catherine's client base includes both large global occupiers and investors who invest worldwide. She is conversant with the challenges that real estate investors and occupiers face. As someone who finds solutions to these challenges and as a regular speaker at the FT Property Summit Catherine will bring an interesting and informed perspective to the panel discussing how property is faring in the political climate.
David Marks co-founded Brockton Capital in 2005; the firm has raised over £1.50bn of equity across three separate funds since 2006, which supports a £4.0bn UK portfolio. Prior to co-founding Brockton, he worked at The Blackstone Group (2001-2005, in London) and JLL (1989-1999, in London and New York). He is a member of the Bank of England’s Commercial Property Forum, the BPF Policy Committee and is a Trustee of the National Gallery. He holds a Masters degree in Real Estate Development from MIT, Boston and was President of the British Property Federation in 2013-14.
Chief Executive of GVA Gerry Hughes has earned a reputation as a highly-respected hands-on leader who is passionate about enhancing people’s lives through their interactions with real estate. A planner by background, he is described by those who work with him as a skilled ringmaster who successfully translates complex visions into delivered developments, traversing multiple property lifecycle stages and political layering. Bringing those skills to his role as Chief Executive, he has successfully led GVA to a position where the company is currently advising on some of the most significant and exciting renewal and urban change projects across the UK, including the launch of the £2bn Haringey Development Vehicle, the £1bn Winstanley Estate renewal at Clapham Junction and acting for Peabody on the ongoing regeneration of the Thamesmead Estate
Radim Rimanek is the Board Director of HB Reavis Group responsible for the company’s activities in the United Kingdom, the Czech Republic, as well as launching development activities in Germany. Previous employers include McKinsey & Company and Dun & Bradstreet in New York and in Prague. He is a graduate of Harvard University.
John Clephan is Project Director at Sheffield Housing Company, a joint venture partnership between the local authority, Keepmoat Homes and Great Places Housing Group. The Company is building mixed tenure housing schemes on council land across Sheffield. He has 20 years of experience in housing and economic regeneration. He joined Sheffield Council in 2006 to lead the delivery of the housing market renewal programme in the north of the city and was part of the procurement team that selected the private sector partner to set up the Sheffield Housing Company in 2011. He led on the Council’s contractual and partnership role with the SHC up to 2016, when he was appointed as Project Director for SHC itself.
Dominic Thasarathar is Autodesk’s primary thought-leader and evangelist for Construction, Energy and Natural Resources. Working globally, his focus is the role emerging technology trends can play in transforming these industries. A Chartered Electrical Engineer and Technology Executive, Dominic joined Autodesk in 2011 from a career spanning two decades in international construction operations – including roles with CH2M Hill (Chief Information Officer, CLM Delivery Partner), Bechtel (Asia-Pacific Manager of Project Systems) and Laing O’Rourke (Project Lifecycle Systems Manager). He holds a Bachelor’s degree in Electrical Engineering from Imperial College and professional membership of The Institution of Engineering and Technology, The British Computer Society and The Energy Institute. His experience encompasses projects in the Oil & Gas, Mining & Metals, Power, Civil Infrastructure and Building sectors.
As Managing Director of CoStar Europe, Giles Newman is responsible for the leadership of our European operations and expansion.
His initial business experience was gained in software and real time information for the financial services sector in both established and then spent some years building a trading system business which was subsequently bought by SunGard, next was a turnaround business where he led the European team who went in to bring the business back from insolvency and which subsequently became part of Reuters. He then joined Thomson Reuters where he spend many years leading the commercial teams globally for the Intellectual Property Information division. Soon after joining CoStar he took over as European Managing Director with responsibility for CoStar’s UK and France businesses. He oversaw the launch of CoStar Suite and its rapid adoption by over 16,000 property professionals across the UK. In addition to managing the UK business, Giles has led the acquisition and subsequent integration of CoStar Group’s new businesses in Spain and Germany and is charged with maintaining the UK and European expansion.
He holds a degree in Pure Mathematics and Statistics from Exeter University, he is a passionate believer in building strong teams that are dedicated to providing exemplary customer service focused on solving customer’s business problems
Andrew Jones was a co-founder and CEO of Metric from its inception in March 2010 until its merger with London & Stamford in January 2013. On completion of the merger, he became Chief Executive of LondonMetric. He was previously Executive Director and Head of Retail at British Land. He joined British Land in 2005 following the acquisition of Pillar Property plc. Mr Jones is also a Non-Executive Director of Unite plc - the UK's leading provider of student accommodation.
Jonathan Goldstein is Chief Executive and Founder at Cain International. Formed in 2014, Cain International is a permanent real estate investment capital vehicle. It has acquired a diverse portfolio of interest in the US and UK, comprising over 4,000 residential units, 2,500 hotel rooms and a variety of other holdings. In addition, it has written almost £2 billion of high yielding real estate debt, primarily in the development space to premier developers and counterparties. It sees a significant opportunity over the next few years in the non-bank lending space. Prior to Cain International, Mr Goldstein was Senior Managing Director and Head of European Real Estate and Direct Investment at Guggenheim Partners. He is also Chief Executive of Ronson Capital Partners and has been a non-executive director at M&C Saatchi since May 2010. After reading law at the University of Manchester, He became a partner at award winning international law firm, Olswang, aged 28, and then in 1998, aged 32, became the youngest ever Chief Executive of a city law firm, before joining Heron International where he worked as Managing Director before becoming Deputy Chief Executive in May 2007.
Rob Lane joined Clarion Housing Group at the point of merger to take up a newly created post of Director of Financial Planning & Investment. As well as taking responsibility for the Group’s long term financial plan, the key purpose of his role is to facilitate and support the Group’s ambition to deliver 50,000 new homes over a decade and to shape its market-facing residential and asset management activities.
Prior to joining Clarion, He was Group Finance Director for the gym chain énergie Group and Finance Director for Network Rail Property. At Network Rail Property, He led the Finance team supporting a transformative investment plan which included the redevelopments of King’s Cross, Birmingham New Street & London Bridge stations as well as the Waterloo Balcony and the Euston Mezzanine projects. He also represented Network Rail on the Board of many of their development and revenue joint ventures.
Jasmine Whitbread was appointed Chief Executive of London First in December 2016, with the mission to make London the best city in the world to do business. She is also a non-executive director of BT Group and of Standard Chartered Bank, where she chairs the Brand, Values and Conduct Committee.
From 2005 to 2015, Ms Whitbread was CEO of Save the Children: first turning around Save the Children UK, then bringing together all the members of the federation to create Save the Children International. This merger aligned 25,000 staff working in 120 countries behind a single mission, strategy and campaigning voice, growing the global budget to over 2 billion USD. Her experience in the non-profit sector began in 1999 when she worked in West Africa with Oxfam.
Prior to this her career was in international marketing in the business-to-business technology sector, holding management positions with Rio Tinto and then in the US with Cortex (a venture-funded start-up) and Thomson Financial. She was awarded a BA in English and an Honorary Doctorate of Laws from the University of Bristol and completed the Executive Program at the Stanford Graduate School of Business. She holds dual British/Swiss nationality and is married with two children.
A Chartered Accountants with 15 years experience in property investment and development, John Tatham established GVA’s Investment Partnerships team in 2017. He works with the public sector to structure and manage investments in real estate - either to generate income or to deliver returns through large scale development and regeneration. His experience as a finance and investment director has seen him responsible for structuring and managing regeneration through a series of public private partnerships and investment funds that invest in sustainable regeneration in most major cities across the UK.
Charlie Wade is the UK Managing Director for VTS, the fastest growing technology platform in the history of commercial property. VTS launched its leasing and asset management platform in the UK in 2015 and is building a significant presence in Europe with clients including Brookfield, Derwent London, Exemplar, LaSalle Investment Management and AshbyCapital. VTS is used by over 250 London agents like GVA, DTRE and Bluebook. The platform manages over 300 million square feet of commercial property in Europe and 6 bn square feet globally. Previously, he spent almost 10 years at JLL in London, New York and Silicon Valley.
Jeremy Collins has over 30 years of experience in property. In late 2003 he joined John Lewis as Head of Retail Development, becoming Property Director in 2010. Mr Collins has responsibility for the acquisition of new shops and distribution buildings and the Asset and Property management of the portfolio. The portfolio is valued at over £1.5bn and comprises circa 10m sq ft of retail, offices and distribution floor space. He was President of BCSC for 2009. He moved into the world of retail property, first with Bredero Properties, Grosvenor Square Properties/Associated British Ports, and MEPC. He moved to Lend Lease in 1998 to lead the development of Touchwood Shopping Centre, Solihull, before heading the company’s UK retail team. Having graduated from Reading University with a degree in Land Management, he spent his formative years in the Economic Development Unit of Wirral Borough Council.
Rohan Silva is the Co-Founder of Second Home, a social enterprise that supports creativity, entrepreneurship and job creation in cities around the world. He was previously Senior Policy Adviser to the Prime Minister, where he worked across all areas of policy, but was particularly passionate about enterprise, innovation and technology. He was responsible for developing key policies to improve the environment for enterprise in the UK, such as the Entrepreneur Visa, Entrepreneur Relief, angel investment tax breaks, the Government's Open Data agenda, and the Hargreaves Review of Intellectual Property. In addition, he created the Government's Tech City initiative, which supports the growth of the technology cluster in East London, and also created the Government's Life Science Strategy in 2011, as well as the follow-up strategy in 2012 focused on genomics and bioinformatics. He is a Senior Visiting Fellow at the London School of Economics, an Honorary Fellow of the Royal College of Art and a World Economic Forum ‘Young Global Leader’.
Pat Ritchie joined Newcastle City Council as Chief Executive in 2013. Since then, she has delivered a programme of transformational change within the organisation as well as working with local and regional partners to create the conditions for sustained economic growth. She is also lead Chief Executive for Transport in the North East Combined Authority. She plays a role nationally on transformation and service reform, co-chairing the independent Service Transformation Challenge Panel in 2014. She is a former Chief Executive of the Homes and Community Agency (HCA) where she led delivery of the Affordable Homes Programme, decent homes, and locally led economic development.
Before joining HCA, she was Assistant Chief Executive and Director of Strategy at One North East, leading the Regional Economic Strategy and action plan, as well as leading development of the Objective 2 programme for the North East. Prior to this, she was Deputy Chief Executive of The Wise Group, a prominent employment and training company in Scotland and the North of England.
Patrick Jenkins has been Financial Editor and Assistant Editor at the Financial Times since 2014. In this role, he shapes the FT’s overall financial coverage, with a focus on financial services and investment. He works closely with the editors of Markets, Lex, FT Money, FTfm and the financial services team. He also contributes to leader writing and comment, while continuing to write for the Inside Finance column.
Previously, Mr Jenkins was Banking Editor from 2009 until 2014, leading the 10-strong global financial services reporting team. Prior to this he was Companies Editor, and before that Editor of International Company News. Prior to taking up this post, Mr Jenkins spent four years in Germany as Frankfurt Correspondent for the FT. He joined the FT Group in 1996 editing the newsletter FT world insurance report, before becoming a UK companies reporter in 2000.
James Pickford is deputy editor of FT Money and writes about property for the newspaper’s Personal Finance section, including buy-to-let, mortgages and the rental market. He is a regular contributor to the section’s Serious Money column. James’s previous roles at the FT include London and Southeast Correspondent, UK News deputy editor, and editor of Business Life, the FT’s daily management section.
Hugo Greenhalgh is Wealth Correspondent and editor of the FT Wealth magazine. He has been with the FT for the past eight years in a number of positions, most recently as deputy head of the special reports division. Prior to joining the FT, he has numerously been a TV presenter, reporter, magazine editor and writer. He has been a financial journalist for the past 20 years. His first book, a three-part history of the archival records of Adjara in Georgia, was published in 2004.
Chris Tighe is the FT’s north east England correspondent. She writes for all sections of the paper with a focus on the economic rebalancing of the UK economy, regional development and social change. Based in north east England, she has worked for the FT since 1991. As well as charting the end of the region’s coal mining, shipbuilding and iron and steelmaking, she has written about the growth of new sectors and activities and the physical transformation of older industrial areas and city centres.
Dan Thomas has been the Financial Times’ Executive News Editor since August 2018. Mr Thomas was previously the FT’s deputy companies editor and telecoms editor.
Prior to that, he worked as the FT’s property correspondent. He has also reported for FT Money and FT Weekend’s personal finance supplement. Prior to joining the FT in March 2007, he was an assistant editor for Property Week.
Mr Thomas holds a postgraduate degree in journalism from City University and a BA in English and Philosophy from Manchester University. He was named Business Journalist of the Year at the LSL Property Awards and awarded IBP News Reporter of the Year – both in 2010.
James Kynge is Emerging Markets Editor and Associate Editor at the Financial Times. He is also Editor of beyondbrics, the FT’s emerging economies blog. Previously, Mr Kynge was Chairman of FT Confidential, the Financial Times’ premium research services on China, Southeast Asia and Latin America. A recipient of several journalism awards, Mr Kynge has been a correspondent based in Japan, China, Taiwan, Malaysia, Singapore, Russia, former Soviet Central Asia and Hong Kong over the past 28 years. He was the FT’s China Bureau Chief for seven years until 2005 and later headed up the Pearson Group of companies' business operations in China. He was also President of FTChinese.com, the FT's Chinese language website. His prize-winning book China Shakes the World was an international bestseller, translated into 19 languages.
Claer Barrett is the Financial Times' Personal Finance Editor as well as the editor of FT Money. She has worked for the FT group for over a decade, joining the Investors Chronicle magazine as the financial crisis took hold, specialising in property and buy-to-let investment. She became the FT's retail correspondent in 2011, then served as deputy UK news editor before being appointed to her current role. Her weekly Serious Money column won the Headline Money commentator of the year award in 2016 and 2017. A frequent contributor to TV and radio debates on personal finance and investing, she is an expert on the BBC1 series Right on the Money.
Agenda - 22nd Nov
8:00amRegistration and Breakfast
9:00amFT Co-Chair’s Opening Remarks
by Patrick Jenkins, Financial Editor, Financial Times
Martin Wolf, Chief Economics Commentator, Financial Times
9:35amPanel – Brexit
- With banks now talking in concrete terms of moving thousands of staff out of the UK to continental Europe, what are the knock-on effects for London and the UK? Is this a minor shift compared to those already seen after the financial crisis?
- Are there risks to London’s ability to compete internationally? How do we attract and maintain talent to the city?
- How are landlords preparing for the broader economic consequences of the EU departure?
- Overseas investment into UK commercial property appears to have recovered this year after a referendum blip -- is that trend here to stay?
- How do property investors in continental Europe view the Brexit factor?
- Will much-needed action in areas such as housing fall victim to the overriding importance of the Brexit process within the UK government?
- Should the property sector be a larger factor in the Brexit negotiations?
Melanie Leech, Chief Executive, British Property Federation
Catherine Cook, Partner, Clifford Chance
Toby Courtauld, Chief Executive Officer, Great Portland Estates
David Marks, Co-Managing Partner, Brockton Capital
Radim Rimanek, Board Director, HB Reavis Group
Moderator - Patrick Jenkins, Financial Editor, Financial Times
10:30amFireside Chat : Chinese outbound investment
- What does the influx of Chinese property investors mean for the UK market?
- Will regulators force significant changes to the UK property funds landscape after the referendum “gatings”? What would this mean for the broader investment picture?
- How do you maintain buoyancy in the market during Brexit and increasing pressures of geopolitical challenges felt outside the UK?
John Miu, Chief Operating Officer, ABP
Stephen Hubbard, Chairman, CBRE
Moderator - James Kynge, Emerging Markets Editor, Financial Times
11:00amPanel - Ecommerce and the retail space
- Is the UK set to see a retail property downturn on the same scale as the US?
- Will the rise of e-commerce eventually threaten prime retail sites as well as secondary?
- Can restaurants and “experience” venues compensate for the drop in traditional stores? Are stores used as showrooms worth as much to retailers as stores used for selling?
- Are landlords losing their bargaining power with tenants?
- How much will the arrival of imported inflation squeeze the UK consumer?
- With companies such as Google and Alibaba going into the retail sector, what does this mean for real estate?
Jeremy Collins, Property Director, John Lewis
Peter Miller, Chief Operating Officer, Westfield Europe
AndrewJones, Chief Executive, LondonMetric Property Plc
Fiona Hamilton, Global Head of Retail for International Brands, BNP Paribas
Moderator - Claer Barrett, Personal Finance Editor, Financial Times
12:10pmPresentation - The economic and social value case for infrastructure investment and how we should capture it
- Changing approach to making the case for investment- transport benefits- to real estate benefits to a wider social economic benefit perspective
- How treasury is still lagging behind on this issue
- Focus on the approaches to Crossrail 2, HS2 and Thames crossing- DLR extension
- The lessons from Crossrail1
- Case studies- Thames Crossing, Crossrail 2
- Whys HS3 in the north is so important from a social and economic perspective
- Real estate sector- thinking beyond property
Gerry Hughes, CEO, GVA
12:30pmInterview - The future of London
Discussion with Sir George Iacobescu, Chairman and Chief Executive, Canary Wharf Group on the effect of Brexit and the fall in the pound on construction cost.
Sir George Iacobescu, Chairman and Chief Executive, Canary Wharf Group
Moderator - Hugo Greenhalgh, Wealth Editor, Financial Times
1:00pmPresentation –Real estate in the era of connection
From the use of generative algorithms in design, to 3D printing in delivery, to the capacity for the Internet of Things to unlock new forms of value in operations, the range of emerging digital technologies that have the potential to disrupt the real estate sector can seem overwhelming. Collectively, they are giving rise to a new era for our built environment, the Era of Connection, where the ability to digitally connect together people, capital, assets, devices, production capacity, and computing power is poised to redefine how we plan, fund, design, deliver and operate built assets. This presentation will highlight some of the key technologies and implications for this new connected era.
Dominic Thasarathar, Industry Strategist Construction, Energy, Natural Resources, Autodesk
2:15pmIntro Presentation - Co-Working
2:20pmPanel - Co-working
- Can co-working continue to grow at its current pace? What does that mean for traditional office landlords? Will we see property companies setting up their own co-working services?
- Is the UK’s commercial office sector adaptable enough to cope with increasing demand for a very different way of working?
- If banks/FPS move away to continental Europe, what response is needed to adapt the standard office spaces that this sector once occupied?
- What are office investors and developers doing now to safeguard their buildings’ attractiveness to different occupiers and ensure they are fit to meet future needs?
- How do landlords assess co-working in terms of its long-term sustainability and covenant strength? Does co-working herald the end of the long lease?
Rohan Silva, Co-Founder, Second Home
Mark Dixon, Chief Executive Officer, IWG
James Lowery, Co-lead for Storey, British Land
Charlie Green, Chief Executive Officer, The Office Group
Moderator – Dan Thomas, Deputy Companies Editor, Financial Times
3:05pmFireside Chat – Data
- As “big data” grows in importance, numbers on rents, sales, locations etc are increasingly valuable, with a series of startups promising to create a “Bloomberg terminal for real estate”. Who should own and distribute this valuable information? Is the industry now using its data efficiently?
CharlieWade, Managing Director UK, VTS
Giles Newman, Managing Director, CoStar Europe
Moderator - Kate Allen, Capital Markets Correspondent, Financial Times
3:30pmPresentation - Evolution of the housing sector
This session will provide an analytical, data-led overview of how the current housing cycle is evolving, and how regulatory and policy measures are shaping the market for new investment including Build to Rent and new housing delivery.
As well as a deeper dive into how data and technology are transforming the landscape for decision making in the property market.
Richard Donnell - Research and Insight Director, Hometrack, a part of ZPG Plc
4:00pmInterview - Placemaking leadership
Discussion with Craig McWilliam, Chief Executive, Grosvenor Britain & Ireland, on the pressures of city growth and the call on the real estate sector and public sector.
Craig McWilliam, Chief Executive, Grosvenor Britain & Ireland
Moderator - Daniel Thomas, Deputy Companies Editor, Financial Times
4:20pmAutumn budget - Live Video Commentary
Claer Barratt, Personal Finance Editor, Financial Times
4:25pmPanel - Local authorities and UK property
- How can councils push forward more housebuilding when they are also facing steep funding cuts?
- What are the most successful examples of partnerships between the private sector and local authorities on property developments?
- Are the challenges the same or different in London and regional cities?
- How successful is the model of arm's-length housebuilding companies founded by local councils?
Pat Ritchie, Chief Executive Officer, Newcastle City Council
JohnClephan, Project Director, Sheffield Housing Company
John Tatham, Senior Director, GVA
Rob Lane, Director of Financial Planning and Investment, Clarion Housing Group
Moderator - Chris Tighe, North East England Correspondent, Financial Times
5:10pmPanel - Housing in London
- How much momentum is the build-to-rent sector gathering? Can we hope to see new homes constructed for rent on a scale that could move the needle on overall construction?
- Are falling rents and house prices in London a sign of hope for those excluded from decent/affordable housing or just a blip?
- Could any of the measures in the housing white paper help to mitigate the housing supply crisis?
- With the leasehold and Bovis housing quality scandals, are politicians and the public losing trust in volume housebuilders?
- How can developers become more popular with the public?
Jasmine Whitbread, Chief Executive, London First
Johnathan Goldstein, Chief Executive Officer, Cain International
David Montague, Chief Executive, L&Q
Jon Di-Stefano, Chief Executive, Telford Homes
Moderator - James Pickford, Deputy Personal Finance Editor, Financial Times
5:55pmFT Chair’s Closing Remarks
The FT Property Summit 2017 will be attended by:
- Insurance companies
- Real Estate Investment Trusts (REITs)
- Investment managers and advisors
- Investment banks
- Property developers
- Asset managers
- Chartered surveyors
- Estate agents
- Property services providers
- Accountancy practices
- Law firms
- Pension funds
Previous attendees have included:
- Abbey Business Centres Ltd
- Abbey National
- Aberdeen Asset Management
- Addleshaw Goddard
- AEGON Asset Management
- Allianz Real Estate
- Angelo, Gordon Ltd
- Association of Real Estate Funds (AREF)
- AXA Real Estate
- Bank of America
- Bank of England
- Barclays Capital
- Berwin Leighton Paisner LLP
- BNP Paribas Real Estate UK
- British Land
- British Property Federation (BPF)
- Brookfield Incorporações S.A.
- Canada Pension Plan Investment Board
- Carlyle Real Estate Advisors LLP
- Cass Business School
- CB Richard Ellis
- Clifford Chance
- Climate Change Capital
- Cohen & Steers
- Coutts & Co
- Deutsche Pfandbriefbank AG
- Dominion Real Estate Limited
- Emlak Konut Real Estate Investment Trust
- Eric Young & Co
- European Banking Authority
- Exemplar Properties
- F&C Property Asset Management
- Ferguson Partners Europe
- Generali Real Estate
- Grant Thornton
- Great Portland Estates
- Grosvenor Group Limited
- GTIS Partners
- Hammerson UK Properties plc
- Hampton/Hoerter LLC
- Helical Bar
- Herbert Smith
- Heron International
- Hines UK
- IKB Deutsche Industriebank AG
- ING Real Estate Investment Management
- Internos Real Investors
- Invista Real Estate
- IVG Immobilien AG
- Jones Lang LaSalle
- Lachman Associates, LLC
- Land Securities
- LaSalle Investment Management
- Legal & General Property
- Lloyds Banking Group
- Local Shopping REIT plc
- Locate in Kent
- London School of Economics and Political Science
- Longbow Real Estate Capital LLP
- Maastricht University
- Mayor of London’s Office
- McGrigors LLP
- Melcorpo Commercial Properties
- MetLife Real Estate Investments
- MGPA (UK) Ltd
- Ministry of Justice
- Nabarro LLP
- Norges Bank Investment Management
- OCBC London Branch
- Olympic Park Legacy Company
- Orchard Street Investment Management LLP
- OVG Real Estate
- Oxford Properties
- PA Consulting Group
- Palatium Investment Management
- Pramerica Real Estate Investor
- Prudential Mortgage Capital Company
- Quantum Global Capital Advisors
- Redevco Europe Services BV
- Royal Institution of Chartered Surveyors
- Schroder Property Investment Management
- Scottish Widows Investment Partnership
- SEGRO plc
- Sellar Property Group
- SJ Berwin LLP
- Standard Life Investments
- Stanhope PLC
- Tate Hindle
- The Bank of Tokyo Mitubishi UFJ, Ltd
- The Blackstone Group
- The Crown Estate
- The EDI Group Limited
- The National Bank of Kuwait
- The Royal Bank of Scotland
- Thomas and Adamson
- Thomas Eggar
- Threadneedle Asset Management Limited
- Townsquare Sliema Ltd.
- TriGranit Development Corporation
- Tyndaris LLP
- UN Environment Programme Finance Initiative
- University of Cambridge
- Urban Green
- Urban Land Institute
and many more...
- Gain access to senior decision makers across the investor, developer, lender and occupier sectors
- Brand alignment with the FT and its unrivalled credibility
- Demonstrate thought leadership around the current critical issues affecting the real estate sector
- Benefit from sustained international visibility through our advertising and marketing campaigns
WITH THE SUPPORT OF (1)
Grosvenor Britain & Ireland creates and manages high-quality neighbourhoods across the UK and Ireland. The company’s diverse property development, management and investment portfolio includes Grosvenor’s London estate of Mayfair and Belgravia, in which it has a £1bn rolling investment programme. Other developments are elsewhere in London and in Oxford, Cambridge, Edinburgh and Southampton. As at 31 December 2016, Grosvenor Britain & Ireland had £5.1bn of assets under management.
Grosvenor Britain & Ireland is part of Grosvenor Group, a privately owned property group active in some of the world’s most dynamic cities. @Grosvenor_GBI
Founding Law Firm Sponsor (1)
"Clients state the firm is "the best in what they are doing," praising the team's approach: "They are easy to communicate with, they find solutions when in deadlocks and are fast to respond."- Chambers & Partners Europe 2018, Real Estate Europe-wide
Our international Real Estate Group acts for the industry's leading players advising on the full range of real estate-related transactions and is a leading specialist in real estate investment, banking and private equity transactions. With local and cross-border expertise we focus on high-end transactions, notably in corporate real estate, real estate finance, real estate M&A, large-scale development and regeneration, construction, hotels and high-value leasing, environment, planning and litigation.
Our integrated network of leading individuals has the commitment, resources and know-how to get deals done wherever they are including in times of uncertainty. We are considered to be the powerhouse for creative, market-leading ideas achieving better results for our clients. Consistently ranked by peers and clients alike as the No. 1 for real estate related matters we were once again ranked as the standalone top tier firm in Chambers Europe 2018: Europe-wide Real Estate with clients and industry sources describing Clifford Chance as "incredibly capable due to their broad resources and depth of expertise."
Lead Sponsor (3)
Hometrack provides independent residential property analytics, insight and data to support critical decision making. Now a part of Zoopla Property Group (ZPG), we help partners enhance the customer journey, manage risk and maximise profits by delivering accurate and reliable analytics and specific insights into their decision making processes.
Hometrack operates in three main areas; financial services and capital markets, residential real estate services and partnerships and data. Our independent data delivers greater transparency on mortgage portfolios for capital management and funding, and enables those building, investing, broking and trading housing assets to make better informed decisions using unique data and analytics.
GVA offers the country’s leading and most diverse real estate advisory service. With its in-depth understanding of the market, supported by a leading research capability, GVA advises private businesses and the public sector on the whole real estate lifecycle - including strategic advice such as debt and equity finance and re-structuring, to transactions, development and management of assets.
Associate Sponsor (1)
HB Reavis is an international real estate developer founded in 1993 in Bratislava, Slovakia. It operates in the United Kingdom, Poland, the Czech Republic, Slovakia, Hungary, Germany and in Turkey and is currently the third largest developer in Europe, according to PropertyEU’s annual ‘Top Developers Survey’.
The operations have so far yielded a total of 9.88 million sq ft of modern offices, shopping and entertainment spaces and by 2019, HB Reavis is planning to hold one third of the company’s portfolio in London. HB Reavis relies on a fully integrated business model and has total assets of £1.8 billion, with a net asset value of £1 billion.
In July 2016, HB Reavis sold 33 Central to Wells Fargo for £300 million. The deal was one of the largest single office deals in the City of London market in 2016, and one of the most significant post-EU referendum commercial property transactions.
Drinks Sponsor (1)
We’re delighted to announce that the wine at the FT Property Summit is supplied by renowned winemaker Howard’s Folly. And if you’re as impressed as leading critics like the FT’s Jancis Robinson (“just screams pure elegance”) or Robert Parker (“tight, crisp and powerful with midpalate finesse and refinement”), then you will also have the opportunity to part-own the vineyard!
The company will shortly be launching an equity and rewards crowdfunding campaign limited to just 1,000 investors. This will help fund the conversion of a recently acquired landmark heritage building in Estremoz, a charming hill-top town 90 minutes east of Lisbon, which will become the new winery and tasting facility. Priority will be given to those who pre-register their interest which you can do by visiting www.iimpact.tv/howardsfolly.
Ultimate Homes is a property development and investment firm.
The Company is established to facilitate fundraising to provide residential housing developments within the UK.
Operating in prime locations across the UK, the company aims to produce appealing and intelligently designed developments to meet the evolving requirements of the local market, from students, professional couples and families to those seeking the perfect buy-to-let or investment opportunity.
The Company initially intends to raise funds from investors by way of the issue of a 9% coupon 24-month Mini-Bond.
Media partners (6)
Property4Media is the social network connecting leading property brands and PR professionals with top journalists across the property sector.
It is the media’s key route to sourcing property news and issuing requests for information, and PR’s prime channel for building relationships and maximizing ROI from campaigns.
To enjoy a free two-week trial with Property4Media, the UK's leading property media service, just email the code “FT” to email@example.com or call us on 0203 440 8918.
Maximise your media coverage today!
The ICLG series provides current and practical comparative legal information on a range of practice areas. These comprehensive guides follow a question and answer format to ensure thorough coverage of each topic within different legal systems worldwide. Each guide draws together the collective expertise of our contributors to provide a valuable and convenient resource, updated annually.
The ICLG series provides a practical insight for general counsel, government agencies and private practice lawyers, keeping them abreast of law and policy globally.
All guides are available free to access at www.iclg.com.
Whether acquiring, managing or disposing of assets, both investors and their advisors can use CoStar to spot and analyse opportunities; benchmark and report on the performance of assets; and identify and contact potential buyers or sellers in every market.
CoStar Group provides transparency and drives efficiency in the commercial property sector through real time data and insight. Thousands of property professionals now use CoStar Suite & Propex, where nearly 500,000 commercial buildings are tracked for investment opportunities and transactions; space availability and deals; tenants moving in and lease expiries.
EPRA, the European Public Real Estate Association, is the voice of the publicly traded European real estate sector. With more than 220 members, covering the whole spectrum of the listed real estate
industry (companies, investors and their suppliers), EPRA represents over EUR 365 billion of real estate assets and 93% of the market capitalisation of the FTSE EPRA/NAREIT Europe Index.
EPRA’s mission is to promote, develop and represent the European public real estate sector. We achieve this through the provision of better information to investors and stakeholders, active involvement in the
public and political debate, improvement of the general operating environment, promotion of best practices and the cohesion and strengthening of the industry. Find out more about our activities on
Established in 1999, and headquartered in the Netherlands, Europe Real Estate offers an extensive overview of real estate developments throughout Europe. With the latest property news, events and valuations, reports and feature articles from the commercial property market.
Europe Real Estate, part of the REP group of companies, is a multinational, independent commercial real estate media and marketing company with a pan-European scope and an international orientation.
Preqin is the leading source of information for the alternative assets industry, providing data and analysis via online databases, publications and complimentary research reports. Preqin is an independent business with over 250 staff based in New York, London, Singapore, San Francisco, Hong Kong and Manila serving over 40,000 customers in over 90 countries.
Preqin has the most comprehensive and extensive information available on the private equity and venture capital, hedge fund, real estate, infrastructure, private debt and natural resources industries, encompassing funds and fundraising, performance, fund managers, institutional investors, deals and fund terms. Leading alternative assets professionals from around the world rely on Preqin’s services daily, and its data and statistics are regularly quoted by the financial press.