Property Focus: The Interview – Jonathan Mills

In our new series of interviews with top professionals from across the property sector, TheBusinessDesk catches up with Jonathan Mills, director of national investment and head of Jones Lang LaSalle’s Manchester office.

What are your views of the current state of the commercial property and property development markets?

While the market continues to be challenging with weaker occupier demand, commercial property investors are becoming convinced that the steepest point of the pricing correction is tangible and that the medium term prospects for UK property are attractive.

We are seeing signs of optimism in the North West market, where demand continues to increase from both domestic and overseas buyers; with investments let to strong tenants for 10 years plus at reasonable rents proving increasingly liquid. 

Jones Lang LaSalle has recently transacted £43m of investments in the North West over the last eight weeks, across all types of commercial property sectors. 

This period of increased activity is more movement than we have seen this year combined and shows that the depth of buyers seeking prime stock is increasing.

Overall, our view is that we are seeing early signals of a positive turn in the UK commercial property market, although this is the start of a long process of recovery rather than the heralding of a steep rebound.

What key challenges and pieces of legislation do you think will most affect your sector over the coming months?

Sadly, the much documented empty rates legislation continues to hinder and unfairly penalise our industry.
 
Why do you think North West is a good place to do business?

The entrepreneurial spirit, endeavor and ingenuity of the people undoubtedly make the North West a great place to work.

What is your favorite building/development in North West and why? 

Manchester’s Town Hall – a truly great statement for the city.
 
If you could improve anything in the region, what would it be?

Transportation links between the principal cities and towns in the region.

What was your first job and how did you enter your current line of work?

My first job was washing cars at my father’s garage when I was 13.  During my university course I worked on as a site engineer. One wet and cold day, as I trudged around in the mud, a man in a smart business suit pulled up in new BMW.

I later learnt he was a general practice chartered surveyor and I remember thinking at the time that looks like the job for me!  
 
What do you most enjoy about your job?

Perhaps a bit clichéd but definitely the people. Working in property really does allow you to meet a range of different characters as well as some smart business brains.

What barriers have you faced during your career and how have you overcome them?

I can’t say I faced any real career barriers. At worse, not having a North West accent has led to a bit of mickey taking.

What is the best piece of advice you’ve ever been given?

Don’t worry about financial incentives; concentrate on being the best you can at what you do and you will be rewarded.

And the worst?

Probably from my days working in property management when I was advised, for security purposes, to block a building’s entrance with two loads of hardcore. 

My boss failed to mention that two loads of hardcore actually equated to 30 tonnes and by me following their advice I actually blocked a whole road, a pavement and knocked down the surrounding boundary walls!