Summary
THERE have been two themes at every presentation on commercial property investment for most of the past 10 years. The first was that there was a tidal wave of foreign money looking for British and particularly London assets from Ireland, Germany, Russia and now Asia, which meant prices could only go one way -- up. Second, British banks were gagging to lend money to anyone with a half- decent property story.
Investors did not have to be big, or particularly professional. Tales abounded of how bankers lurked at property auctions and pounced with juicy financing offers on successful bidders the moment they made their purchase -- often with neither having seen the property just bought. Serious students of the sector reckoned it accounted for at least half of all new lending by UK banks.See the full content of this document
Extract
The Bubble Bursts for Commercial Property
Some of this lending has no doubt been repackaged and sold on to other investors, but the banks must still be holding on to a reasonable slice of it, which means they may be looking with some ...
See the full content of this document
Sponsored links
