The Mayor of London treats developers and estate agents to a shorter than usual flute of his blurt and bluster. Is Boris Johnson worried about the failure of developer-led regeneration to build enough homes for Londoners?
The second London Real Estate Forum opens in Berkeley Square © London Intelligence |
Bluster's last stand?
Mayor of London Boris Johnson
bombastically opens the second annual London Real Estate Forum on a
butterscotch sunshine evening in Berkeley Square (Tuesday 10 June), writes Paul Coleman.
Developers and landowners,
according to LREF organisers at least, come to this year’s event “offering
investment opportunities”.
Clinking champagne and wine glasses, they listen
avidly to water-sipping Johnson, their powerful, avuncular and jocular chum from City Hall.
LREF organisers also claim Johnson’s
audience includes potential investors seeking profitable residential
or commercial projects.
They promise two days of "intense debate and deals".
They promise two days of "intense debate and deals".
Beaver-led
regeneration
Johnson’s surpasses his own bizarre oratory standards. His speech about property development-led regeneration in
London cavorts choc-a-bloc with wacky references.
Johnson likens developers in
London to “bright-eyed, bushy-tailed beavers emerging from hibernation”.
And, in turn, developers and their
towers, like The Shard, ‘Walkie Talkie' and “the Ladyshave” – (the Mayor’s
nickname for the Strata Tower), attract “exotic species, including seventy-two
billionaires, from all over the world to London’s Serengeti watering hole”.
“London is to the billionaire as
the jungles of Sumatra are to the Orangutan,” chunters Johnson. “London is their
natural breeding habitat. You can hear them at dusk pan-tooting their mating
cries up in Berkeley Square’s trees.”
“London is the greatest city on
Earth – and everyone wants to live here.”
Duty
Of course, not everyone can afford
to live in London – especially Londoners on average and lower incomes. Dropping
the tuck-shop thief smirk for a jot, Johnson tells his audience of developers
and estate agents: “We all have to recognise that we live in a city where there
are still huge numbers of children growing up in poverty – and we’ve
deprivation in colossal quantities.
“There’s childhood illiteracy on a
scale, I think, that shames our city.
But, above all, we have large numbers of people – and not just those in need of social housing – but those in the middle who cannot afford to live anywhere near their place of work. We have a duty to address that problem.”
But, above all, we have large numbers of people – and not just those in need of social housing – but those in the middle who cannot afford to live anywhere near their place of work. We have a duty to address that problem.”
Chronic
Johnson rumbles forth: “But how do
we solve that chronic inequality?"
Of course, it’s a rhetorical question – and Johnson’s answer reveals his underlying concern about poverty and inequality in London.
Chiefly, this concern rests on a
fear that political opponents could, if elected, introduce radical wealth
redistribution measures.
The possibility of such a
political occurrence seems remote.
But it’s interesting to see just how much a remote possibility frightens politicians like Johnson and his political chums.
But it’s interesting to see just how much a remote possibility frightens politicians like Johnson and his political chums.
Tax bankers
“Do we say to those exotic
billionaires arriving in London – ‘push off, hop off you Frogs?’ Should we put
some swingeing new tax – a mansion tax - on property?
Do you want to tax the bankers
out of town?
No, I don’t want to see that.
The way to sort this problem is to
help the poorest and needy by helping them tackle their education –and above
all, by getting them into work.”
Venerated
Venerated
As a tentative footnote, Johnson gently chides his audience of developers and property agents: “And, by us together building enough homes for them to live in.
Because frankly, we’re not doing enough.
Because frankly, we’re not doing enough.
So let build homes that Londoners
need, for Londoners.
Homes that will be venerated in
fifty years time.”
Note:
LREF
2014 ‘area briefings’ staged over 11-12 June include:
- Stratford and the Royal Docks
- Old Street and Shoreditch
- Victoria
- King’s Cross & Euston
- City of London
- Canary Wharf, Greenwich and Lewisham
- West London
- Croydon
- Southbank & SE1
- Nine Elms and Battersea
- Fitzrovia and Bloomsbury
- Covent Garden and Seven Dials
- The West End
Developers and property market players exhibiting at LREF include: Barratt Homes, Canary Wharf Group,Derwent London, Grosvenor, Helical Bar, Henderson Global
Investors, Lend Lease, Quadrant Estates, Quintain, City of London
Corporation, and The Crown Estate
LREF
delegates pay £425 + VAT per day.
The
LREF is supported by the Mayor of London, Financial Times and the City of
Westminster – and claims its ‘headline partners’ as Cushman & Wakefield,
Jones Lang LaSalle and Knight Frank.
©
Paul Coleman, London Intelligence, June 2014
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