About us
We are a leading business of property investment managers, with national reach across all property markets.
We offer returns that outperform market benchmarks over any time horizon.
Our client relationship management is professional, collaborative and dedicated, placing clients at the heart of our business. The individuals of our team have their own areas of specialism that will be drawn upon to deliver a tailored approach.
Part of the Cluttons group, the investment management service is able to draw upon the expertise from across the business.
We are authorised and regulated by the Financial Conduct Authority and the Royal Institution of Chartered Surveyors.
Jamie McCombe
Jamie is an FCA-approved manager with over 26 years of experience managing balanced commercial investment portfolios across the UK.
He enjoys creating long-term relationships with clients, with a view to becoming an established and trusted advisor. A decisive and effective fund manager, he consistently outperforms the benchmarks for all of his existing investment management clients.
With a particular expertise in managing long term endowment funds with investment objectives of long-term income and capital growth, Jamie brings a wealth of insight and experience to our company.
Jamie is a member of the Royal Institution of Chartered Surveyors (MRICS).
Latest research & insights
Boundary Park, Hemel Hempstead
One of our clients had an existing balanced portfolio, but our forecast for the market suggested greater gains could be made by overweighting to the industrial sector.
Mandela Way, Southwark
This built-from-scratch portfolio required a spread of sector assets. As a result, we identified an opportunity in Southwark, Central London.
Searle Crescent, Weston-Super-Mare
The challenge was to maximise the return from an existing client portfolio.
Commercial property examiner Q1 2025
The introduction of tariffs on goods being exported into the US in April is the biggest change in world trade seen in a century.
Commercial property examiner Q4 2024
Commercial property examiner Q4 2024
Commercial property examiner Q3 2024
In the first nine months of 2024, the economy has been growing at the annualised equivalent of 2.0% and CPI inflation has fallen back below the MPC’s 2% target.
Commercial property examiner Q2 2024
UK economic growth has surprised on the upside since the start of the year and CPI inflation has fallen back to the 2% target rate.
Commercial property examiner Q1 2024
At the end of Q4 2023, the UK entered the mildest of “technical” recessions after suffering from two consecutive quarters of falling output.
Commercial property examiner Q4 2023
Globally, moderating inflation and steady growth are leading to a soft landing amid rising anticipation of cuts.
Commercial property examiner Q3 2023
After revisions to GDP, the UK economy is now estimated to be 2.1% above its prepandemic level but remains 3.4% below its potential level.
Commercial property examiner summer 2023
A combination of sharply higher inflation and interest rates has created a cost of living crisis that has held back the UK economy. Following a lack of growth in the three months to February, the economy shrank by -0.1% in the three months to May.
Q2 2023 commercial property examiner
The UK economy has so far just avoided recession but following growth of 0.4% in January, the economy failed to grow at all in February.
Q1 2023 commercial property examiner
Forecasts for the UK economy signal that GDP will fall slightly throughout 2023 and into Q1 2024, as high energy prices and interest rates restrict consumer spending.
Q3 2022 commercial property examiner
Forecasts for the UK economy expect Inflationary pressures in the United Kingdom and the rest of Europe to intensify and exacerbate the fall in real incomes for UK households.
Q2 2022 commercial property examiner
Despite a satisfactory performance by the UK economy so far this year, the risks of a recession are increasing.
Q1 2022 commercial property examiner
Russia’s invasion of Ukraine will have major implications for the world economy and has raised the possibility of a UK recession.
Q4 2021 commercial property update
The UK economy is estimated to have grown by 0.9% in November 2021 and is now 0.7% above its pre-coronavirus (COVID-19) pandemic level.
Q3 2021 commercial property update
Growing numbers of Covid-19 infections slowed the economic recovery in Q3 but the success of the vaccination program limited the number of hospitalisations and fatalities.
Q2 2021 commercial property update
The UK’s commercial real estate market has been far more resilient in the face of the pandemic than was first feared in March/April 2020 after the introduction of the first Covid-19 lockdown.
Q3 2019 commercial property update
The performance of the UK economy continues to be underwhelming. UK economic output has been disappointing since the GFC and expectations of the outlook for the next two years are lower still.
Q1 2021 commercial property update
The third lockdown has had very little impact on the trajectory of macro-economic forecasts for the UK economy.
Q4 2020 commercial property update
The UK’s commercial real estate market has been far more resilient in the face of the pandemic than was first feared in March and April after the introduction of Lockdown 1.0.
A quantitative approach to real estate asset allocation for balanced funds
Conventional market cap weighted portfolios lack diversification, which has the potential to lower their returns and increase risk.
Q4 2019 commercial property update
In November UK economic output declined by 0.4% and year-on-year GDP growth decreased to just 0.5%; the lowest level since June 2012.
Q1 2020 commercial property update
The global economy is projected to contract by -3% in 2020. However, the pandemic fades in the second half of 2020 and the global economy is projected to grow by 5.8% in 2021.
Q2 2020 commercial property update
Without a vaccine or successful treatment for COVID-19, the recovery is likely to be slow and pro-longed. In the worst case scenario a second outbreak could result in 4 more years of economic decline.
Q3 2020 commercial property update
The combined fall in UK economic output in March and April amounted to -25.3% but was shallower than expected.
Charity property investment: maximising income
In a climate of low returns, property can be a good investment for a sustainable income stream.
Q2 2019 commercial property update
In the first edition of the new Cluttons IM Commercial Property Examiner, we explore the latest underlying economic and financial market drivers that help shape our real estate portfolio strategies.
The next UK recession – not if, but when?
The health of the UK’s commercial property market is inextricably linked to that of the UK’s economy. Given the illiquid nature of direct real estate portfolios, advance notice of a downturn in the market can be critical.
London residential market outlook
Cluttons predicts that the London residential property market will fall a further 10% before prices begin to recover in a year to 18 months’ time.
The True Value of a Dynamic Asset Manager
Whilst we applaud the launch of the INREV Asset Index, we would caution against an Index, based on past asset level performance, replacing time spent really understanding what differentiates the best asset managers from the rest. In the following article our non-executive chairman, Simon Latham, explores some of the issues.
Pension Fund Allocation to Real Estate
As pension funds look to further manage capital volatility through a reduced exposure to global equities aligned with the need for increased income to match liabilities, the search for an alternative proxy for indexed-linked gilts has become more focused.
Richmond Place, Richmond
Following the systematic refurbishment of all floors at this high quality office in Richmond-upon-Thames, the building has been fully re-let at top rents for the town.
Poplar Park, Avonmouth
We have concluded a lease renewal at this modern industrial unit in Avonmouth, an established distribution location to the north west of Bristol city centre.
Peregrine House, Richmond
We gained vacant possession of this centrally located office building in 2016 and undertook a Grade A refurbishment including all-wooden floors, exposed ceilings, air conditioning and staff showers.
Some welcome news for UK’s High Streets
A couple of weeks ago we commented on the latest gloomy high street news with yet more retailers struggling.
Managing estates from an investment perspective
Matt Peake shares his commentary in this preview article, part of the Charity Finance Yearbook 2019: Challenges and opportunities in managing estates, which will be published early next year.
The changing dynamics of retail property asset management
Reflecting on the troubles at Patisserie Valerie, it continues to be a year of turmoil for the retail sector, particularly for those with a primary dependence on bricks and mortar and a high street presence.
London’s office market trends
Matt Peake presents the opening remarks at Bisnow’s London State of Office event addressing some of the issues facing the occupational and investment markets.
Managing risk in a competitive market
Jamie McCombe appears on Property Week’s Investment Think Tank panel to discuss low-risk ways of managing prime investments.
Investors focus on UK regions to boost office returns
Whilst Central London continues to attract significant global capital, investment in the regions over the last two years was up on 2016, with overseas investors accounting for a significant proportion of that.
Boundary Park, Hemel Hempstead
One of our clients had an existing balanced portfolio, but our forecast for the market suggested greater gains could be made by overweighting to the industrial sector.
Mandela Way, Southwark
This built-from-scratch portfolio required a spread of sector assets. As a result, we identified an opportunity in Southwark, Central London.
Searle Crescent, Weston-Super-Mare
The challenge was to maximise the return from an existing client portfolio.
Commercial property examiner Q1 2025
The introduction of tariffs on goods being exported into the US in April is the biggest change in world trade seen in a century.
Commercial property examiner Q4 2024
Commercial property examiner Q4 2024
Commercial property examiner Q3 2024
In the first nine months of 2024, the economy has been growing at the annualised equivalent of 2.0% and CPI inflation has fallen back below the MPC’s 2% target.