Managing director and head of retail estate Jack Foster sees potential in cities such as Liverpool despite reports of overbuilding and excessive supply.
He says: “It is going to be a rocky ride in the short term but I would not go short on it for too long.”
Globally, Foster says: “We are underweight on Australia although it looks attractive in the longer term. We like Asia where we can find it. We think consumers will start spending again in Japan so real estate should do very well.”
He remains underweight on the US, predicting that interest rates will rise.