The world has changed. Countries have changed. The United Kingdom has changed. Investment strategies that have been appropriate for the past 50 years are almost certainly now past their “sell-by” date.

After the Second World War, the United Kingdom needed to rebuild itself both economically and physically. We’ve now done it, and we don’t need any more offices or industrials or retail outlets. We have more than enough for the foreseeable future. Whether they are in exactly the right place, of course, is a different matter!

On top of this, the world has just seen the arrival of the 7 billionth person. Substantial population growth is projected across Africa, Latin America and Asia, while Europe is the only region showing negative growth. But more challenging is the fact that urban populations around the world are going to continue to increase dramatically over the next 20 years. The move toward urban-isation is also strongest away from E