PROOF - Planning InSite 2016

CHRIS GOLDSMITH
MANAGING DIRECTOR
TURNSTONE ESTATES
Chris launched Turnstone
Estates in 1989. He has since
combined his complementary
skills in financial services,
development and portfolio
management to great
effect, steering the company
through the vicissitudes of
the market to its present
enviable position.
“A period of uncertainty
has already begun and it
will continue for some time
whether we leave the EU or
stay. Occupiers and investors
are feeling the uncertainty
and the impact is that it will
stop investment in the short
term. It’s not just Brexit;
there are a lot of questions
in the financial world about
what could happen in the
next couple of years. Are we
heading back into recession?
Is growth going to slowdown
or stop all together? These are
natural concerns for investors.
I believe if the vote goes
against the Brexit, and we
stay in, it is more likely that
the market will return to a
‘normal’ level quickly. There is
a chance investors will relax,
and start investing in projects
again. But I don’t think we
will be out of the woods.
Something is going to have
to give in terms of our and
other members’ relationship
with Europe. It could
therefore be that the ‘noise’
that generates could amplify
over the next 10 years.”
ROB HALL
DEPUTY MANAGING DIRECTOR
HILL RESIDENTIAL
Rob is a Chartered Surveyor
with a wide range of
experience having worked on
projects in the consultancy
and housebuilding sector. He
has a background in Agency
and Development, he has
worked extensively in London
and the Eastern Region.
“Markets are driven by
certainty and the Brexit
debate has already caused
uncertainty in the residential
investment market. It’s
difficult to assess how big
the EU decision plays in this
as other recent government
announcements have also
stalled potential buy to
let purchaser. No doubt
that in the final weeks of
campaigning, if a buyer was in
two minds about moving they
might hold off until after the
vote: particularly if they sense
the market is uncertain. As
far as delivery of new houses,
it could be a far bigger issue
depending on the detail of
what emerges if we were to
leave. In our supply chain,
quite a few of the trades
rely heavily on the migrant
population. After a Brexit,
if the ease of movement
and encouragement of that
labour to come to the UK
wasn’t there, it would severely
affect our ability to deliver in
numbers. One of the biggest
issues in the supply of new
homes is that there is an
available workforce.”
TONY YIANNAKIS
PARTNER
QUIDNET CAPITAL PARTNERS LLP
Tony is Partner at Quidnet
Capital Partners LLP and a
Professional Associate of
The Royal Institution of
Chartered Surveyors. He has
a wealth of experience in the
real estate industry gained
over the last 30 years.
His strengths lie in sourcing,
executing, financing and
asset managing real estate
investments.
“The EU referendum result is
already creating uncertainty
in the investment market
because we could potentially
enter unchartered territory. If
a vote to stay comes through
on 23 June, I believe things
should settle back down
again quite quickly. However,
a vote to leave could prolong
this uncertainty, as it will be
unclear how things will evolve
and progress. My concern
is that this period of time
will encourage investors and
businesses to hold back on
their investment decisions;
this will create low demand
within the property market
as they will wait until there
is more clarity in terms of
market growth and stability.
Although this hesitation
can be debilitating for the
majority, it always provides
opportunity for some to
capitalise on the unknown
market conditions.”
Planning InSite 11