Commercial property securities exchanges IPSX UK has received considerable support from the British Property Federation (BPF) and other real estate heavyweights ahead of the opening of the new stock exchange for property.
In an open letter to the industry, BPF chief executive Melanie Leech said: 'We believe that IPSX is a significant development in the modernisation of the real estate capital markets.
'We support its ambition to create a liquid market for single properties, with dividend and cost transparency, either as a direct or SIPP investment, and available to all market participants. We also welcome the opportunity that IPSX aims to provide, as a platform for the industry to showcase broader economic, environmental and social initiatives.'
IPSX is tipped to revolutionise the way commercial real estate assets are held and traded, with the exchange offering new capital raising and liquidity opportunies for participants whilst upholding regulatory standards set by the UK’s Financial Conduct Authority.
In a separate letter, industry heavyweights such as Segro, Nuveen Real Assets, Savills, Tishman Speyer and Argent all lent their public support to the new exchange, alongside past and active leaders including Mike Slade, ex-chairman of Helical, David Sleath, CEO of Segro and Mark Dixon, founder & CEO of IWG, saying: 'We expect to see the first assets listed on IPSX this year, providing property owners with a more flexible way to release capital and direct access to professionally managed real estate investments for both institutions and private investors alike.'
Speaking about the considerable industry support, David Delaney, IPSX group chief executive commented: 'We are delighted to receive endorsement from the British Property Federation and the wider real estate industry and thank those that signed these letters for recognising IPSX as a capital markets innovation.
'It is an exchange that can make a real difference in how assets are traded, capital is raised and standards across the industry are enhanced – both from an ESG angle and an investment perspective.'