Europe

Allied London chief: Regional cities may benefit from Brexit


Allied London chief executive Mike Ingall has said regional cities could benefit if London’s position is affected on the global stage.

“I think the key will actually probably be what happens in London and the speed at which London remains affected in its position in the world,” he said.

The majority of Allied London’s assets are in the capital, but it has significant assets in Leeds and Manchester.

“Major provincial assets will carry on growing,” he said.

Although he said he expected 12-24 months of uncertainty and “not much happening” in the market, he said the long-term outlook was good.

“At the end of the day providing the UK remains a good base for investment, particularly from Far Eastern investors and actually US funds, we are going to be fine,” he said.

He added: “The key here is to accept what’s happened and get on and move on and work together and market the country. At the end of the day it’s not different to any product. We have to market the UK to the rest of the world.”

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