New funds looking for ‘deals’

Posted on Posted in INDUSTRY NEWS

Falls in commercial property values have stimulated the market and attracted new buyers, it has been reported.

Resolution Property is about to go bargain hunting with what the Financial Times described as a £3 billion "war chest" and Schroeders has launched a £1 billion property fund to do the same.

"To a certain extent, it is a buyer’s market," said Robert Laurence, manager of the Resolution fund, "but you still need to take a view on how far the market will fall and when it will return," the Financial Times reported him saying.

Schroeders’ head of property, William Hill was quoted in the Sunday Times saying the company was raising £300 million towards a property fund.

Some unfortunate owners of commercial property are selling their investments at a loss, which has encouraged new funds entering the market.

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