Europe

Is Brexit’s bark worse than its bite?

With careful asset selection, the UK regions could be an even a better bet for investors than they were before the vote to leave the EU

You have seen it a thousand times: “Keep calm and carry on”. Printed on countless tea towels, mugs and T-shirts, this cosy Second World War slogan has become a British motto, and since the 23 June vote to leave the European Union it has also become a piece of property industry wisdom.

Investors pulled £483m out of UK property funds in July as they digested the referendum result, according to data from Morningstar. But talk to landlords, investors, developers or intermediaries in the UK’s big regional cities and you hear the same message from everyone.

“It’s OK,” they say, scarcely able to believe it themselves. “No, it’s really OK.”

And for the time being it is, mostly. The sky did not fall in on 24 June, despite the temporary liquidity issues faced by the retail funds.

So now the panic has turned to plodding, how do investors navigate a path through the Brexit property scene? Those responsible for making the English regions as appealing as possible believe they have the answer.

Jonathan Browning is a former managing director at Jaguar, the iconic British car maker, and also a former chairman of…

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