Over 150 people attended a property update from Helmsley Group in York today.
Chairman John Reeves debated how Brexit will affect the property industry and said: “We’re being discerning over what and where we buy in order to future proof our client investments.”
“Any change of government will present a huge risk to investors and doesn’t bear thinking about for our industry. It could lead to the destruction of entrepreneurial wealth creation.”
“We’re focusing on better quality towns and cities that attract buyers and high quality tenants.”
Ed Harrowsmith, Syndicated Property Associate Director advised: “Property continues to outperform many other investments, however we’re at the peak of the market cycle and I believe a downturn is just around the corner. That said, our portfolio continues to perform well as a whole.”
Max Reeves, Development Director, continued: “Helmsley Group is investing in niche developments in popular locations to give us a strong market edge.”
“Current schemes include high end residential developments like The Old Fire Station in York, which sets a new benchmark for sales values in the city. We’re also creating affordable homes from office to residential schemes, which includes the newly started Hallfield Road in York.”
The discussion also covered the threat of internet shopping to the high street, to which Max Reeves added: “Our portfolio isn’t over exposed to retail and in this environment it’s essential to keep other development options available in case of a need for a change of use.”
Tom Sykes, Asset Manager, updated Helmsley Group clients on the current portfolio, which includes residential, industrial and office accommodation.
Managing Director Richard Peak said: “We were delighted to welcome so many clients to the AGM and look forward to working closely with them through 2019 to develop their wealth through their property investments”.
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