MIPIM DAY ONE

Industrial/Warehouse News

MIPIM is only just underway, but you can tell already that there are more people here and that they are taking a more progressive approach to the market. 

On the first morning, I had meetings with one asset manager and one developer/investor, both dealing principally with industrial assets.  Both of them are looking to invest within the East Midlands and they are actively looking for asset management opportunities. 

The feeling here is that the market has changed noticeably since last summer and has become very competitive already.  While the improved sentiment we are seeing here is not yet visible to the same degree in occupier markets, it is on the way and people are looking to take positions now rather than ‘after the event’.  

The market will open up opportunities for people who have been constrained by not being able to trade their property.  There will be some flexibility for an exit now. 

There are some challenges ahead.  The problems of the past few years mean the market lacks capacity to deliver which will bring pressures on prices and deliverability. 

What MIPIM tells us already is that this is a market on the move.