MIPIM 2016: With uncertainty hanging heavily in the air, there is a danger that ‘operation juddering climax’ could become ‘operation thundering halt’.
You will hardly need reminding that “juddering climax” is a classic Borism, coined at last autumn’s Conservative party conference to describe his ambitions for the last months of his mayoralty. His deputy, Sir Edward Lister, used it this week too, telling EG that the last weeks of the administration would yet peak.
But the threat of Brexit is a clear and present danger, in real estate terms. In the event of Brexit, valuations would fall 10%, said one sage. Three months of uncertainty and the pause in activity already being experienced could cause a 30% fall in activity this year, was the view of another.
That is not to say nothing is happening. Far from it. But a delivery of substance may come down to a trio of footballers – former Manchester United and England star Rio Ferdinand, West Ham United’s Mark Noble and Brighton’s Bobby Zamora. They are here to launch their estate regeneration project, Legacy, which is sure to be one of the most head-turning announcements of the week.
That, and the inevitable agency merger rumours, grist to the MIPIM mill.
If it gets too quiet on the deal front, perhaps a five-a-side match on the beach could capture the imagination.
After all with Nottingham bringing down former Forest players Garry Birtles and John Robertson, we could put quite a team together.
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