Property focus: The Interview – Charles Murray

How difficult is it to operate in the property sector at this time?

Well, it’s certainly not getting any worse. Last year, I would say to anyone that would listen that the commercial property market in 2010 was disastrous, but I was cautiously optimistic that 2011 might be just “very poor”. So far I’m right and I’m upgrading my forecasts for late 2011/early 2012 to “pretty rubbish”.

Looking into your crystal ball, what are your predictions for the industry over the coming months?

High street retailers will continue to struggle. Office occupiers will slowly be tempted back into action, but it will be painful for landlords. Industrialists will continue to do the best of all, but they’ve taken such a battering (as has everyone) that they dare not yet admit that things are OK.
 
If you could improve anything in the region what would it be?
One word – confidence.  We need confidence from occupiers and from bankers. Whilst everyone is continually jittery, nothing moves forward.

How does the North West commercial property compare to other regions in the UK?

It’s historically been less prone to the wild fluctuations of fortune of other regions and at present it’s occupying its traditional upper mid-table position – not the best, but certainly not the worst by a long margin.

What has been your biggest business mistake / achievement?

Biggest mistake – Waiting too long to set up my own practice.
Biggest achievement – 8.30 am, 11th March 1999 – First day’s trading of Regional Property Solutions. I was grinning so hard I could hardly answer the phone. Luckily it didn’t ring very much on the first day.

What is the best project you’ve been involved in?

Assembling and purchasing the site of Urban Splash’s development of Budenberg Haus projekte of ultimately 900 residential apartments in Altrincham.

What drives you to be the best in your field?

Continued pride in our reputation as being the best on our patch and the satisfaction of a job well done.

What would be the biggest thing that could be done to improve the property sector in this region?

Get those rascals that are sat on all the money to get their dictionaries out and look up the definition of “banker”. It’s “A lender of money” – Could have fooled me.

Name the person who has most inspired you?
One man for both – Lambert Smith Hampton director Tom Marshall. Firstly, he was daft enough to give me my first ever proper job, so he immediately went up in my estimation as a man who could spot talent.

Then I learnt to admire his steadfast honesty, his unbridled knowledge and last but not least the loyalty and commitment he showed to his staff through some tough times in the early 90’s

What are the best and worst pieces of advice you’ve been given?

Best – Keep your resignation letter short. Never fall into the trap of saying what you really think; Manchester is a very small place.

Worst – “You can trust Mr X, there’s no need to get him to sign your Terms of Engagement”. That advice cost me £50k.