In this episode of PropertyShe, Susan Freeman speaks with Mark Shipman, founding partner of Michael Elliott, to mark his 40th year in real estate. Widely recognised as one of London’s leading investment advisers, Mark reflects on his early career, landmark deals, and the evolution of the London property market. He also shares his perspective on current market conditions, international investment trends, and how technology and regulation are reshaping the industry.
In this episode, Mark Shipman speaks about:
- Career beginnings & early influences – upbringing, first roles, mentors, and founding Michael Elliott at 24.
- Formative deals & Chelsfield – early trades (e.g., Great Newport Street), portfolio transactions, and scaling through the 1990s–2000s.
- How London’s market has evolved – rise of global capital, why international investors choose London (law, stability, culture), and today’s buyer mix.
- Market cycles & shocks – lessons from the early-90s downturn, LTCM (1998), the 2008 crisis, and COVID’s long-term impact on confidence and debt.
- Current investment sentiment – ebb and flow of overseas capital, growth of owner-occupier HQ purchases in prime Mayfair and St James’s.
- Policy and tax headwinds – potential effects of a mansion tax, the end of tax-free shopping, and wider fiscal uncertainty.
- Public markets & capital structure – REIT discounts, possible sector consolidation, and investor shifts towards lending and AI-linked opportunities.
- Development and placemaking – examples including Sterling Square and the Fenwick/Bond Street redevelopment; importance of architecture, design, and tenant mix.
- Hospitality snapshot – strong mid-market hotel performance contrasted with softer ultra-luxury demand.
- Operator-led transactions – OpCo/PropCo structures and the BBC Maida Vale acquisition involving Hans Zimmer’s team.
- Law and regulation – how the Building Safety Act 2022 is reshaping development risk and timelines.
- AI in real estate – valuable analytical tool but still dependent on human judgment and negotiation.
- Advisory approach & lessons – the importance of adaptability, financial understanding, and trusted professional relationships.