Gerald Ronson warned guests at his annual lunch at the Savoy hotel in London of over-exuberence in the investment market that would lead to a correction. Financial Times.

‘We will look back and talk about how obvious the signs were,’ said property veteran Ronson of yields that are at the lowest for tow decades and of the aggressive activity of private equity firms.

He 67-year-old said he had faith in the City of London office market, where his company is working on the Heron Tower.

But he warned: The next few years will be challenging in the property business, it will be experience and judgement that will separate the men from the boys.’