Sir, Jeremy Newsum is in a privileged position atop the UK property industry, but many in the sector — one of the UK’s most important — cannot or will not “lie down” (Global perspective, 14.10.11).
There is near-unprecedented interest in UK property — not just prime — as international investors seek to preserve and enhance wealth in a tolerant and welcoming environment.
The attraction of sterling as an economic platform aside, the UK also has a deep pool of investment-grade property assets with high build quality, relatively long triple-net leases, and many well-known tenants with strong balance sheets. Most importantly to international investors — many of whom have lost money with “local” investments — is an independent legal system that allows the financially aggrieved to seek legal redress.
Many investors from the Middle East and beyond — for whom real estate will always remain a main focus — now prefer to invest in property in structures that are sharia compliant. The UK allows for property purchases to be structured and financed without additional jeopardy or cost.
Nicholas Judd, founder partner, www.90northrep.com