How the UK Government can unlock a billion pounds of investment in London’s next ‘mega projects’ will be the theme of today’s (25 September 2024) London’s Investment Summit, as over 300 leading global investors across sovereign wealth, institutional funds, private office, UK developers, and London borough leaders gather.
Taking place at Guildhall, in the heart of the City, the first major real estate investor event to take place since the UK election, the summit, hosted by Opportunity London, will focus on London and the UK as a leading destination and safe haven for global capital. As London’s trillion-dollar economy continues to pioneer innovation in real estate, energy, and infrastructure, the macro-picture for real estate investment is improving. As real estate investment volumes start to tick back towards pre-pandemic levels, the private sector is calling on the UK government to support critical development opportunities.
London’s development pipeline includes £10.6bn of investible opportunities worth £44bn GDV ranging from: London’s first purpose-built film campus; a low-carbon heat network that recovers waste heat from London Underground; transport interchange improving accessibility for one of London’s major stations, 300-resident strong town centres; a major, inner London best-in-class, mixed-use development on the doorstep of a new Elizabeth Line station; and an 85-acre, waterside regeneration masterplan creating 10,000 homes and 6,000 jobs. The future phases of the 42-acre Battersea Power Station development, which once complete, will offer space for 25,000 people to live and work on site, alongside 3m sq ft of commercial space, approximately 4,000 new homes, over 250 shops, cafes and restaurants and 19 acres of public realm.
Jace Tyrrell, Chief Executive of Opportunity London, commented: “London is leading the UK recovery and there is a generational opportunity to seize international capital to accelerate the next ‘mega projects’, which are key to London’s growth and our urgent transition to net zero.
“With more than £10 billion of investible development opportunities and the macro picture on factors influencing cross-border real estate investment settling, we have arrived at an inflection point. Global capital has a choice. Investors tell us that commitments to critical infrastructure and stability in regulation will have a sizeable impact on scale of the prize, which is valued into the billions.”
Howard Dawber, Deputy Mayor for Business and Growth said: “London is one of the best places in the world to invest and do business and has the potential to unlock billions through its future real-estate developments. We must work hand in hand with government to support investment, growth, and partnerships with international investors. These are key to our future growth and to creating the jobs that support our communities as we continue to build a better, more prosperous London for everyone.”
Lloyd Lee, Managing Partner at Yoo Capital, the real estate investment firm behind Camden Film Quarter and the £1.3bn redevelopment of Olympia, added: “London is a cultural, creative, and real estate capital of the world. Today’s landmark summit marks a significant opportunity for the global investment community to see what our great city offers.
“At Yoo Capital, we believe that London provides more than just a tremendous, risk-adjusted real estate investment opportunity. Our thriving city is leading the globe in defining the future of cultural hubs, raising the standards of urban living for all generations, and creating new jobs across startups, SMEs and global corporations in multiple industries. London’s cultural hubs are flourishing, growing and benefitting all members of society.
“Yoo Capital is delighted to play a leading role in transforming London’s hidden gems into world-class places and destinations that provide these opportunities. Whether at Olympia, Camden Film Quarter, Shepherds Bush Market or the Saville, we are always partnering with communities, institutions and businesses of London and around the world to create the future of living, whether it is in life sciences, entertainment and hospitality, or education.”
Tan Sri Jagan, Chairman at Battersea Power Station Project Holding Company, said:
“London has long been a magnet for international investment thanks to its dynamism, appetite for growth, reputable legal and financial systems and common language for business.
“It seems we are on the cusp of a new era for the real estate industry in London. Following a period of restrictive planning regulation which hindered growth, the new government’s pro-housebuilding policies are very encouraging and if delivered, will revitalise the development sector. It will, however, take progressive leadership, working in a collaborative manner at all levels to ensure that more projects like Battersea Power Station, which regenerate disused areas of the city, create thousands of new job opportunities for the local community and bolsters London’s economy, can be delivered and thrive in the long run.”
Investment H1 2024 activity breakdown:
