In Conversation with… Dr. Robin Goodchild
October 18, 2013
There’s a plethora of leading figures in the property, investment, finance and charity sectors who we’re regularly in conversation with, many of whom are guest authors for PRSupdate – and here we share more about them, their roles, priorities and backgrounds. If you would like to feature in this series, or to suggest someone who might, please get in touch through our contact us page or let us know on twitter.
Why not take a lucky dip into our In Conversation archives and discover:
- Stuart Corbyn, Chairman of Qatari Diar Delancey, East Village Operations
- Susan Fitz-Gibbon, President of ARLA
- Liz Peace, Chief Executive, British Property Federation
Today we speak with Dr. Robin Goodchild (International Director at LaSalle Investment Management) who is a guest author in our latest PRSupdate biannual publication.
Can you tell us a little about your background?
I am a third generation chartered surveyor with 40 years professional experience, predominantly in the UK. I joined LaSalle as European Research Director in 1997 and am responsible for devising investment strategies for pension fund property portfolios.
I have long been interested in UK residential as an investment for institutions and was heavily involved in LaSalle’s investments in the PRS around 2000. I currently chair the Investment Property Forum’s Residential Special Interest Group whose objectives are to educate institutions about the sector and promote market transparency.
For those who may not know, can you briefly explain what LaSalle does?
LaSalle is a global investment manager specialising solely in real estate. We manage real estate assets worth over £30 billion globally, of which £9 billion are in the UK, on behalf pension funds and other institutions. Those assets comprise a mix of retail, office, industrial, residential and hotels held in portfolios designed to deliver a range of returns, dependent on our investors’ risk preferences.
What is the principal difference between investing in student accommodation and the PRS?
A higher net yield and ease of management. I go into greater detail in my article for the latest PRSupdate publication.
(Dr Robin Goodchild was a guest author in the latest PRSupdate biannual publication)
How appropriate is it to make a comparison of yields from student rentals with those from the PRS?
As long as net yields are compared, i.e. after deduction of all operating costs and management fees, then comparisons can be made.
What are currently the greatest challenges facing the PRS?
Packaging up an offer that truly meets institutional investors’ needs and enabling the market to better distinguish between good and bad landlords – I would like to see a system for rewarding landlords who adhere to high management standards rather than Government setting minimum standards through regulation which are expensive for the law-abiding to comply with but the rogues just ignore hoping not to get caught because there is little enforcement.
Finally, do you have a favourite London landmark?
Lord’s Cricket Ground, especially after the recent Ashes Test.