Inactivity in the commercial property investment market due to the EU referendum will run into the traditional summer break subduing the market for the next six months, according to a real estate asset management specialist.
Tim Matthews, Chief Executive of Birmingham- and Worcester-based Blue Marble Asset Management, says that there are already signs in the West Midlands commercial property market that investment decision making will be put on hold not only until after the EU referendum on 23 June, but that lack of activity will continue into the summer holiday period when commercial property investment usually tails off.
He says: “In common with all markets, the commercial property investment market loves an excuse to do nothing, and the EU referendum supplies this, instead of focusing on market forces such as occupier demand and the available supply of properties which should drive investment decisions. Market activity has already slowed markedly and is heading for an extended summer break of around six months.
“Whatever the outcome of the referendum, there is unlikely to be a significant impact on demand for property from occupiers, so Blue Marble Asset Management will see this pause by the market as an opportunity and continue to look actively for investment opportunities throughout the West Midlands.”
Blue Marble Asset Management is a real estate asset management specialist which presently has more than £60 million of property assets under management. It works for a select range of clients including investment businesses, high net worth individuals, trusts and family offices. Its business is based on taking a holistic view of each of its property investments.