Agenda

Since the turn of the century, the world economy and the global commercial property markets have experienced possibly the most sustained boom in growth since 1945. Low interest rates and stable inflation have helped achieve this. But the picture seems to be changing. High oil prices, poor global equity performance, and the US sub-prime crisis have shaken previously resilient commercial property markets, including the UKs. How will this affect price growth, interest rates and the cost of debt? Will the liquidity which has benefited asset markets, including property, endure or dry up? Is this a short-term correction or a longer-term shift in the structure of the global economy?

High prices and falling yields have put a big question mark over UK property as a safe investment. Although the net inflow into property funds in 2007 was £200 million, the amount drastically reduced towards the end of 2007, with the majority of money coming from existing investors. Furthermore, as the downturn became more evident, property funds began changed pricing to discourage investors from redeeming their units, discouraging new investors. How does the UK compare to other investment property markets in Europe and in the wider world? Are there still good investments to be had in the UK, and if so, what vehicles will be yielding the best results through 2009? What are the natural advantages of investing in the UK over other jurisdictions?

Rental income is a fundamental driver of returns for property investors, and its growth has never been more important given the slump in capital values in property.   However weak employment growth in financial and business services in London and the regions has damped demand for commercial. The demand for office and industrial space seem to be following retail demand into the downturn. But how does our panel of occupiers and analysts view next 12 months?

How do the heads of the UKs leading property investment firms see the road ahead for 2009? Do they agree with the economic analysts? What smart innovative strategies will they be considering to shore up returns for 2009?