#245 TR Property’s Marcus Phayre-Mudge on manager-investor alignment and the NAV problem

Podcast: PropCast · PropCast: The Property Podcast

Opublikowano: 2026-05-20

Three decades on from joining a graduate scheme during one of the deepest property recessions in living memory, Marcus Phayre-Mudge, fund manager and partner at Thames River Capital, has watched the listed real estate sector cycle through booms, busts, structural change and a creeping crisis of confidence between boards and shareholders. Speaking to Propcast host Andrew Teacher, the long-serving manager of TR Property Investment Trust delivers an unvarnished assessment of governance, manager-investor alignment, communications and the persistent question of scale that continues to challenge the UK market. Phayre-Mudge begins by setting out a framework he still uses...