Golden Oldie
Latest Article
2nd December 2021
Originally published January 2021.
The European real estate universe grows ever move diverse by the year, with the constant geographical expansion of previous times now replaced by a push into new sectors and, more fundamentally, new ways of investing, with an exposure to the operational side of the asset.
This has been driven by a need among investors to find secure income sources as well as a desire to see different performance drivers and to reweight their portfolios to reflect changing... Read More >
Recent Articles:
1st December 2021
Originally published August 2021.
Hedging your bets.
As the rhetoric around inflation has increased, so too has scrutiny around commercial property, an asset class typically perceived to offer an inflation hedge.
First, there are Read More >
30th November 2021
Originally published August 2021.
With the population moving to the US’s South and West, investment opportunities have followed.
Nearing my retirement, I am considering some of the investment lessons I have learned along the way. One of Read More >
25th November 2021
Originally published September 2021.
This wine connoisseur gives his informed opinion.
Most wine drinkers would probably plump for those made from the ubiquitous Chardonnay grape – French, in particular. Bottles from Burgundy’s Read More >
24th November 2021
Originally published May 2021.
“Vino treba slugu, a ne gospodara” (A vineyard needs a servant, not a master). This old Croatian saying, which has been handed down by winemaking families for centuries entails the single most important Read More >
23rd November 2021
This article was originally published in autumn 2020.
Though the smaller format has a shorter shelf life, it provides the benefit of maturing faster – and is often the perfect amount.
I am still finding it very hard to wean myself off my Read More >
18th November 2021
Originally published March 2021.
Proptech aims to disrupt in multiple ways, but equity markets may hold a clue to the future.
This is the third article in our proptech series. The first looked at how to connect finance and property Read More >
16th November 2021
Originally published September 2021.
Without cyber insurance your business is vulnerable.
An IT department received an email from their marketing team stating that they couldn’t access their files mounted on the file-share server. Read More >
16th November 2021
Originally published June 2021.
Prices are too high, availability too low, and the charging network is a dog’s breakfast. Hold your horses – or just get a bike.
Tackling climate change makes fixing the pandemic “look easy”, Read More >
11th November 2021
Originally published March 2021.
I’m sure you have your mind on higher things than the soapier side of the royal family, but I love it. I have a collection of commemorative china, my mum’s knitting me a copy of one of Princess Diana’s Read More >
10th November 2021
Originally published August 2021.
How fans create electric atmospheres.
Since the arrival of Covid-19, empty seats and eerie silences at sports and entertainment venues have highlighted how much fans contribute to live events. Everywhere Read More >
9th November 2021
Originally published August 2021.
Why the retail real estate world should take note.
In The Sun Also Rises, Ernest Hemingway famously writes, “‘How did you go bankrupt?’ ‘Two ways. Gradually, then suddenly.’” The quote expertly Read More >
4th November 2021
Originally published September 2021.
Virtually no one in Washington even pretends to be concerned about federal spending and deficits anymore. The Biden administration is going wild as the US nears the debt-to-GDP record set after World War Read More >
3rd November 2021
Originally published May 2021.
Local property prices were always a good indicator of UK voting habits – but in the past five years, that’s stopped being true.
The last few years have been volatile for UK politics. There have been Read More >
1st November 2021
Originally published August 2020.
This is the fifth in a group of articles looking at the possible impact of a post-Brexit redistribution of fishing opportunities in the NE Atlantic – and looks at Germany. It considers the same questions Read More >
28th October 2021
Originally published February 2021.
The word of this extraordinary winter in Paris has been couvre-feu. The very expression is still heavy with associations from the 1940s occupation, even if the order to “cover your fires!” was Read More >
27th October 2021
Originally published April 2021.
When thinking about successful emerging market investing, the following quote comes to mind: “In an unfamiliar culture, it is wise to offer no innovations, no suggestions, or lessons.” (Maya Angelou, Read More >
26th October 2021
Originally published July 2021.
The biggest risk a business faces is having bad management. That’s according to Warren Buffett in his latest shareholder meeting.
I agree. Assessing company management is one of the most important jobs an Read More >
21st October 2021
Originally published November 2020.
I don’t like repeating a story that brings any disrespect to the Beatles, especially one so clearly unlikely as the exchange attributed to John Lennon when asked if Ringo was the best drummer in the Read More >
20th October 2021
Originally published January 2021.
With the government under pressure to tackle the UK homes shortage, social housing offers yield opportunities to high-net-worth investors.
As a developer in the North of England dealing in high-volume but Read More >
19th October 2021
Originally published May 2021.
Institutional investors in Europe face a housing supply problem – but America has already found the solutions
Despite the trauma of the 2008 global financial crisis, real estate has experienced Read More >
14th October 2021
Originally published January 2021.
In 1929, when an American congressman compared England’s longest river unfavourably with the Mississippi, the MP for Battersea, John Burns, quipped: “The Mississippi is muddy water, but the Thames is Read More >
13th October 2021
Originally published August 2021.
Virtually the entire Chinese economy, especially sectors with heavy investment inflows, such as technology, social media and private education, is in a state of flux. Foreign investors are pulling their Read More >
12th October 2021
Originally published May 2021.
The long view of property.
In light of the latest review of the long-term economic and financial market outlook, Capital Economics recently revisited our views for commercial property performance over the Read More >
6th October 2021
Originally published May 2020.
An exogenous crisis hit the world, followed by a stunningly fast disruption of the global economy. Political decisions led to the closing of business, to numerous bankruptcies, to ramped-up production in Read More >
5th October 2021
Originally published March 2021.
Plus, reassessing the relationship between UK interest rates and REITs.
This article was originally published in June 2019.
The perceived wisdom has always been that reducing, and indeed low, UK interest Read More >
4th October 2021
Originally published June 2021.
As space requirements fall for offices and retail, residential will fill the gap.
Much of the reflection on post-pandemic shifts in property has been focused on individual sectors, but how these interact Read More >
30th September 2021
Why preserving the irreplaceable benefits everyone and especially moths.
The names of moths are a delicious smorgasbord of rich imagery. Our evenings are festooned by Dusky Footmen and Ruby Tigers, Death’s Head hawkmoths and even the Scarce Read More >
29th September 2021
The FTSE 100 and S&P 500 are trading at very different valuation levels.
US and UK large-cap investors have had very different experiences since the crash of 2009. Over these 12 years, the FTSE 100 more or less doubled, going from a low Read More >
28th September 2021
But what challenges await the US and the wider world?
Over a year after the Covid-19 pandemic spread across the world and crippled economic activity, a recovery is underway. The consensus among economists is for the recovery to be strong, Read More >
22nd September 2021
The Biden administration may yet rue its tax and spend agenda.
Writing a year ago, during the uncertain early days of the pandemic, we predicted that the US government would come to the rescue of the private sector in a manner that was likely Read More >
21st September 2021
The value of a creation is only that which we give it.
Millions of people across our planet fervently believe in the righteousness of their beliefs. Different gods, belief systems, what is forbidden, what allowed, what is a sin and what is an Read More >
16th September 2021
Originally published February 2021.
That I have worked and lived on three continents has given me the chance to create amazing relationships with many different people and cultures, and more importantly, to develop the ability to put things Read More >
15th September 2021
Originally published March 2021.
For many years retail has been the second-largest invested asset class in the commercial real estate world. But now, being one of the sectors most hard-hit by covid-19, it is often leaving investors nervy, and Read More >
14th September 2021
Originally published March 2021.
This newly trendy approach is not just environmentally and consumer friendly, it’s practical too – and at root it’s as old as the hills.
Regenerative agriculture is the groundswell movement shaking up Read More >
9th September 2021
Originally published August 2017.
About 30 years ago I remember my stepfather, a well-known man of considerable standing, surprising me by telling me I was in a ‘gentleman’s profession’. OK, he was quite old, but amongst the next Read More >
9th September 2021
Originally published September 2017.
This November I clock up 50 years as an estate agent - and what have I learnt or gained from this experience?
Well, I have tried alternative business options over the last five decades but still Read More >
9th September 2021
Originally published October 2020.
For those about to emerge from university and enter the world of property, a few words of advice.
As we enter 2020, I find myself engrossed in the new Star Trek series, ‘Picard’. Its central theme, Read More >
8th September 2021
Originally published September 2017.
This November I clock up 50 years as an estate agent - and what have I learnt or gained from this experience?
Well, I have tried alternative business options over the last five decades but still Read More >
7th September 2021
This article was originally published August 2017.
About 30 years ago I remember my stepfather, a well-known man of considerable standing, surprising me by telling me I was in a ‘gentleman’s profession’. OK, he was quite old, but amongst Read More >
2nd September 2021
Top players on why joining the Premier League from abroad is so tough.
The new football season has seen the return of fans and the return of big money transfers. Ahead of the transfer window closing at the end of August, big names Read More >
1st September 2021
Poland offers attractive investment possibilities post-Covid.
We have now undergone a year and half of unprecedented interference in all aspects of our lives including, of course, in business. In an attempt to combat the serious consequences Read More >
30th August 2021
The battle between inflation hawks and doves is heating up. The year-over-year change in the Consumer Price Index is 5.4%, significantly above average. This figure, from the end of July, comes after several months of economy-wide price Read More >
26th August 2021
Originally published March 2021.
Free hugs? I know it sounds incredible, but there was a time when they were available in public spaces! As we all plan our post-lockdown freedom, inevitably we question ‘What will our workplace look like?’ Read More >
25th August 2021
Originally published June 2021.
In this very special series of exclusive articles for The Property Chronicle, Australian property legend Norman Harker reflects on his extraordinary 50-year life in real estate. He will pull no punches partly Read More >
18th August 2021
Originally published March 2021.
Some trends in investing are cyclical (mean reverting) and some are structural (permanent). Distinguishing between the two is crucial for investors.
Cyclical trends mean-revert eventually, but can spend Read More >
17th August 2021
Originally published April 2021.
This year, a Paris property pioneer celebrates 50 years living and working in France. In half a century of developing office properties, the resilient Paul Raingold has navigated many cycles of boom, bust and Read More >
16th August 2021
Originally published April 2021.
Inflation is in the news again. Many prices are rising even before we can physically get out and spend, and governments are pouring vast amounts into the economy.
Whichever side of the inflation debate Read More >
11th August 2021
Originally published May 2021.
Globally cities have taken a hit, but that’s a blip – and the UK capital in particular is set to thrive.
London is in crisis. Over the past year the UK capital has experienced population loss of biblical Read More >
9th August 2021
Originally published June 2021.
The costs have been exaggerated and the benefits are ones that every modern society should welcome.
There has been a lot written lately about universal basic income (UBI). Some are in favour, explaining the Read More >
5th August 2021
Originally published April 2021.
3 July 1938 was a milestone for British engineering. The LNER 4468 Mallard set a new world speed record for steam-powered locomotives between Little Bytham and Essendine in South Lancashire at 203km/hr. More Read More >
4th August 2021
Originally published April 2021.
Imagine a grocery store of the future, located in your average middle-class suburb, somewhere in America. On the way to picking up the children from soccer practice, a mother quickly realises she forgot to get Read More >
3rd August 2021
Originally published April 2021.
Markets were shaken but unstirred by the collapse of Greensill and the Archegos unwind trades. Credit Suisse is the ultimate loser of the two scandals – reputationally damaged and holed below the water line. Read More >
29th July 2021
Originally published January 2021.
A few months ago I came up with a simple way to categorise companies and their shares based on their most important attributes.
For me, those most important attributes are quality, defensiveness and Read More >
27th July 2021
Originally published January 2021.
Nick Sleep is one of the greatest investors I’ve ever come across. Sleep managed the Nomad Investment Partnership for over a decade, along with his partner Qais Zakaria, delivering returns of 921% versus Read More >
26th July 2021
Originally published January 2021.
Real estate distress cycles generally offer rich pickings to investors, but that’s unlikely to happen this time – and here’s why.
This article discusses the potential path for a distress cycle in US Read More >
20th July 2021
Originally published winter 2019.
A player’s three-dart shooting average offers a clear metric that can be analysed to reveal the best strategic options – investment management has parallels.
Statistically, if a player’s three-dart Read More >
19th July 2021
Originally published January 2021.
The way we educate our school-leavers needs to change.
I can recall being staggered, when first working in the US, by how much personal debt individuals took on as a matter of course to attain a degree. I Read More >
14th July 2021
Originally published March 2019.
The early history of the Caribbean (and especially Barbados) is well told in the book Sugar Barons by Matthew Parker. Even by the cruel standards of the time, the descriptions of the treatment of indentured Read More >
13th July 2021
Originally published December 2017.
The Barcelona Pavilion, by Mies van der Rohe.
Over many years of working on numerous projects, I have always drawn inspiration from the work of some of the great architects from the past (borrowing Read More >
12th July 2021
Originally published July 2020.
How did the Great Fire of 1666 shape London's architectural history?
At this time of year, we are inundated with nostalgic images of a Victorian Christmas set in a Dickensian London where the real horrors Read More >
8th July 2021
Originally published August 2017. David Hill begins his series on the status of the horseracing industry.
This is the first in a series of four articles on the history of British racecourses providing a context for the existing economic Read More >
8th July 2021
Originally published May 2018.
Sport. The very fine margins. The difference between winning and losing. The moments that define a career. The moments that define a life.
There has been an awful lot of talk recently about FOBT's. About levels of Read More >
7th July 2021
Originally published August 2017.
How going online has restored the value of second-hand books.
As a book dealer, I would like to respond to an article published on the BBC website on 28 December 2018, ‘The booming trade in second-hand Read More >
5th July 2021
Originally published August 2017. This is the first in a series of four articles on the history of British racecourses providing a context for the existing economic status of the industry.
The recent legislation that all betting Read More >
1st July 2021
Originally published December 2020.
“I haven’t been to my office now for several months.” “When I go to my office it’s only for a meeting.” “My office is my dining table.” Are the offices so many of us worked in for decades Read More >
30th June 2021
Originally published August 2019.
Why we need to encourage innovation and holistic solutions to the challenges facing real estate.
“Silo busters unite!” is becoming a slogan here at the Real Estate Institute. We contest that Read More >
28th June 2021
Originally published September 2020.
Dear development financier,
Are you really, truly, aware of the risks you will be taking over the next few years with your residential loan book? You are supposed to say yes. I am supposed to say no Read More >
24th June 2021
Originally published 16 March 2021.
Being a child in the 1960s was Utterly Brilliant. It was all so exciting – because we all knew we were going to space. The theme music from “Apollo” still resonates. Late at night peering at the Moon, Read More >
21st June 2021
Originally published February 2021.
For investors, the recent decline in retail property performance might suggest opportunity for acquiring property at distressed pricing. The challenge for such investors is to identify discounts associated Read More >
17th June 2021
Originally published 28 January 2020.
As UK agriculture faces major funding changes, one important resource should not be overlooked in developing sustainable farming systems
Those who remember farming in the decades after the second world Read More >
15th June 2021
Originally published 30 September 2020.
Matthew Piepenburg and Thomas Lott, two hedge fund managers with Ivy League pedigrees, have issued a stark warning in their latest book Rigged to Fail. Published in February 2020, the book is as timely Read More >
14th June 2021
Originally published 12 November 2020.
As I write this, we still don’t know who won the presidency. It is, however, time to declare at least one winner. After almost sixty years of fighting, it’s clear that the War on Drugs is almost over Read More >
9th June 2021
Originally published in April 2018.
Welcome to my sport column – An occasional look at various commercial sides of the sports industry which ultimately deliver the live events we enjoy.
The Premier League is the single most valuable cog in Read More >
8th June 2021
Originally published in November 2020.
While a good title is no guarantee of a good book, it can act as a guide.
Choosing a title is challenging. It is hard to find a memorable word or phrase that not only sums up a work of fiction but Read More >
7th June 2021
Originally published in April 2021.
“Daddy was a bankrobber, but he hurt nobody. He just liked to live that way, stealing all your money…”
As Greensill and Archegos roil markets and cause losses, it brings the question: Who is next? Read More >
3rd June 2021
Originally published in March 2021.
Like many readers, I took advantage of the best snow in years to go sledging with my daughters. As Daddy bombed down the hill like Bowser in Mario Kart, my mortality flashed before me and I realised I was Read More >
2nd June 2021
Originally published in April 2021.
Needless to say, covid-19 has caused significant dislocations in all aspects of our daily lives. One of these has been a major shift in working practices. Almost overnight, those of us who were primarily Read More >
1st June 2021
Originally published in April 2021.
Often in life, what you don’t see is more important than what you do.
You can look round a house as many times as you want, but you won’t get a true sense of what the neighbours are like until you Read More >
26th May 2021
Originally published in February 2021.
The pandemic has been with us for over a year, infecting more than 100 million people. Although vaccinations have begun around the world, the damage to the global economy is done. According to the Read More >
19th May 2021
This article was originally published in October 2018.
The returns on most investments are purely financial. But some investments have other rewards. Buying art, for instance, offers the chance not only to anticipate what is going to do well, Read More >
18th May 2021
This article was originally published in September 2020.
(Oliver is joint-owner of Maidstone Utd FC, Director of Brive Rugby Club in French Top 14 and recent Board Member of The National League.)
Right now there is a heated debate on Read More >
17th May 2021
This article was originally published in September 2020.
While high-tech modern racing vessels can be seductively sophisticated, a classic yacht takes charm to another level.
My absolute passion is sailing. I rather consider my Read More >
13th May 2021
This article was originally published in December 2020.
The investor’s dilemma faces all of us: if we don’t invest, the purchasing power of our money will slowly decline; if we do invest, we are exposed to the risk of loss. It results in Read More >
13th May 2021
This article was originally published in December 2020..
The spring lockdown did not stop UK M&A in its tracks, but activity slowed. Faced with the fog of economic uncertainty, some buyers put their chequebooks back in the drawer, and Read More >
12th May 2021
This article was originally published in January 2021.
Traditionally, real estate was often viewed as little more than a downside hedge for a diversified portfolio. This reflects its low correlation with equities and bonds and its perceived Read More >
6th May 2021
This article was originally published in November 2020.
Many farming and food companies are investing or plan to invest in improving the sustainability of food production. This Craigmore commentary, the first in a three-part mini-series, Read More >
6th May 2021
This article was originally published in November 2020.
Australian is sometimes referred to as the lucky country. While a generalisation, Australian commercial real estate (CRE) has enjoyed strong investment demand from both local and Read More >
6th May 2021
This article was originally published in October 2020.
Housing shortages in Europe’s cities are driving a rise in tenant protections such as rent control, but that needn’t be a bad thing for investors
Europe’s best cities are Read More >
29th April 2021
This article was originally published in June 2020.
Market volatility is at an historic extreme. From a technical perspective, post-pandemic US stock markets are behaving in a manner unseen in price history, making multi-year lows and Read More >
28th April 2021
This article was originally published in May 2020.
The words we choose are revealing. In an amusement park, small electrically powered cars with rubber fenders all round are driven in an enclosure. Some people call these cars “dodgems”, Read More >
27th April 2021
This article was originally published in June 2020.
According to the IPCC, we have about 10 years – at current emission rates – before the planet hits the CO2 budget limit consistent with giving us a fair chance of avoiding an average Read More >
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