The global fund management boss – The Property Chronicle
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The global fund management boss

My World 2021

My world: June 2021…

This is part of a series of articles where our contributors describe how they think things will look a year from now.

Next time we have a crisis, let’s not wait until the barbarian is at the door

So often, we don’t react early enough to the full implications of a crisis – a classic human characteristic of not acting until the barbarian is at the door. I understand the barbarian is coming, but he’s not here yet so I don’t need to react… The barbarian is closer but he’s not  here yet, so let’s carry on… Oh look, he’s at the door – quick, do something!

I see parallels in the response to covid-19: It’s in Wuhan but not here/I won’t get it/it’s probably like flu, so I’ll carry on working in the office… Oh look, it’s here, highly infectious and making people seriously ill – quick, do something/everyone get into lockdown!

And similarly with the high-street retail crisis caused by Amazon enabling the transition to online retailing: People like shopping/it might mean a few high-street retailers don’t survive, but others will take their place with more in-demand products… Anyone remember Kodak?

So how does this relate to my world of global real estate investment? Well, in my view, the impact of covid-19 will cause changes to the use of buildings. What might they be? I will focus on two significant changes that I think likely to occur, though I could easily identify more (an increase in online higher education, for instance).






My World 2021

About Phil Clark

Phil Clark

Phil Clark is Head of Property Investment at Kames Capital. He is responsible for managing Kames property team and chairs both the direct and indirect property investment sub-committees. He has 31 years’ industry experience, is a former Chairman of the Investment Property Forum, a current member of the RICS Commercial Property Forum and has been co-chair of the Property Industry Alliance Debt Group since 2008, which represents the industry to the Bank of England, FCA and Treasury on matters of property debt. He holds an MA in real estate from Cass Business School, is an FCA Authorised person and is a Trustee of the University of London.

Articles by Phil Clark

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