Knight Frank group chairman says medium to long term investors will stay in UK

Alistair Elliott, senior partner and group chairman at Knight Frank, has been focused on developing the firm’s global strategy since he took up the position in April 2013. He specialises in the office market sector, and throughout his career has focused on the office agency and development business.

During his career he has been involved in a wide range of projects, with particular highlights being the acquisition of headquarters for Texaco and Readers Digest, both at Canary Wharf.

You have seen a lot of up and down cycles during your long career in the real estate industry. Do you think the British vote to leave the European Union (EU) was the most critical one?

In the business world, I believe it is the most transformational event since the Lehman Brothers [collapse which triggered a global financial crisis in late 2008]. I have to hope that as a result the British will be more entrepreneurial as a group of people and as a government. For real estate, people have lots of choices. We need to ensure Britain remains in an attractive position for business and for people going forward.

What is your view on the market outlook in Britain?

I believe Britain in the medium term will be a very good place for investment. Will there be short term concerns? Yes, that is evident in the falling British pound. I believe the government will begin to re-establish itself on a journey that is not a direct part of the EU. Once stability comes back, people will make more tangibleinvestment decisions in the medium to long term.