LISTEN L&Q chairman and former Savills chief executive Aubrey Adams has given his first interview since becoming a non-executive director at Tritax Big Box REIT.
Speaking at Savills’ Spotlight on Reading event on Wednesday, Adams explained why in the current market he was attracted to the long-term growth prospects of an industrial and logistics REIT.
He admitted that the commercial market was “quite tough”, and said that “the part of the retail chain that looks like it is doing well is the big boxes”.
However, he was also cautious that there was so much money looking at long-income assets.
“There’s real potential for long-term growth there. There’s long-term income and although it is obviously low yielding, and it’s a very competitive market, it is what investors want at the moment.
“I can’t quote any numbers, but I guess there is far more money coming into that market than there is actually stock – yields will come down,” he added.
To hear Adams’s views on the Reading market, as well as his reasons for taking on a role as chairman of one of the UK’s biggest housing associations, listen to the podcast above.
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