Notwithstanding the Tube strike, a number of keen Young Leaders showed up at the Ibex House offices of PLP Architecture on 6^th August 2015 for an interactive Lunch & Learn session with Simon Clark – the new ULI UK Chairman and Partner Consultant at Linklaters.

The event started with an overview of Simon’s professional journey up to date – highlighting a multidimensional nature of his career (over 30 years at Linklaters, involvement in the development of ULI Europe and UK since their early days, industry-wide contributions such as to the popularisation of REITs as property investment vehicles) as well as the unpredictable nature of real estate. For example, the transformation of Canary Wharf began in the 1980s but became a success story only thanks to a clear vision for the area, suitable finances available despite the risks involved and the later addition of transport links. Likewise, the emergence of sovereign wealth funds since the early 2000s has significantly transformed the investment scene in Europe.

Simon emphasised the important role of ULI as a worldwide and of ULI Europe as a pan-European network for industry professionals to exchange their ideas. This can be observed today on the example of the growing role of the Private Rented Sector (PRS) – which originated in the USA, but is gradually becoming the tenure of choice in the UK as well. Last but not least, Simon pointed out that the ULI is a valuable platform from which to constantly gain knowledge essential for long-term career progression and build a network of professional relationships which can help steer it in the desired direction.

With the world of real estate in constant transition, Simon moved on to outline the current trends he has observed. For instance, a staggering rate of technological development has meant that much more flexible working spaces are increasingly sought after, which – although leading to uncertainty – leaves plenty of space for innovative solutions. Moreover, investing in property has become more corporatised, meaning that real estate cashflows are now available in a variety of formats to a wider range of investors. In light of this and due to the specificity of property as an asset class, it remains truer than ever that familiarising oneself with the particular buildings or portfolios should be the backbone of investments.

Finally, while risk and volatility are inevitable when the real estate sector is concerned – whether in relation to politics (e.g. taxation and regulation), technology or the economy – some cyclicality can nevertheless be observed. The 1970s and today alike have been witness to corporate lending and investment by insurance firms. Such different phases in the cycle require different strategies and management styles from key industry and political figures.

The room then became heated with discussion, with participants sharing their own stories and experiences as well as asking questions on career development and leadership. The architects agreed on the importance of clear communications with clients to fulfil their project brief and vision. Simon advised on how to be a good listener, build your own personal brand and constantly consolidate lessons learnt to progress up the 4-step ladder: from apprentice, through doer and manager, to proprietor. While this progression should by no means be expected to be a smooth or swift one, being able both to work as part of a larger team and to be an independent-thinker is crucial.

Many thanks to Simon Clark for being such a great teacher and providing useful career tips. Thank you also to PLP Architecture for hosting at their fantastic venue. We look forward to the upcoming Lunch & Learns – hopefully not affected by public transport suspensions!

Words by Aleksandra Zolyniak