Europe

SEGRO chief: Time for a more cautious approach to property

The result of the EU referendum calls for a “more cautious approach” in property, according to the chief executive of SEGRO.

Responding to this morning’s volatility in the markets, where SEGRO’s share price was down 10%, David Sleath said that immediate volatility was unsurprising but his company was optimistic in the medium and long term.

He said: “I’m sure there will be volatility for quite some time to come but in due course, things will settle down.”

However, he added that Segro will be careful about UK investments. “We allocate our capital to the market that will give us the best risk adjusted returns,” Sleath said.

“We’ll be watching and choosing carefully how and where we make the investments. It calls for a slightly more cautious approach than normal, given the current environment.”

Regarding the rest of the UK property market, he said: “It’s about how the UK commonly fares in a post-Brexit world. Longer term, I’ve got great confidence in the resilience of the UK sector, and I think the property market will continue to fare well.”

Other News

C&W predicts jump in European investment

Investment into European property will rebound with 6.3% growth in volumes in 2017 despite rising inflation and political volatility, forecasts from Cushman & Wakefield’s 2017… Read more »

E Europe

2016 global top 100 real estate owners

Only the US, China, Japan and Germany have GDPs larger than the total assets held by Estates Gazette Global’s top 100 real estate owners. This… Read more »

E Europe

Centres of excellence

The top 100 richest cities in the world account for around one-third of global GDP. To access 25% of available global output, you would need… Read more »

E Europe