INDUSTRY NEWS

Helical Bar: Investors need “courage”

UK developer, Helical Bar’s chief executive has called for investors to show some courage and buy real estate.

Mike Slade told Bloomberg it is seeking investors, is in talks with potential partners and wants to get a major global fund involved.

"You have got to have some courage if you’re buying at a time when everyone is running the other way," he said.

Mr Slade explained he was looking to acquire plots, which have little or no current value and transform the company.

Recently announced figures from the Investment Property Databank showed commercial property suffered a torrid time of late – it revealed commercial property values fell two per cent last month.

However, with a falling market come investors. The UK has already witnessed an influx of foreign funds, eager to buy offices in London and other commercial properties before the market hits rock bottom.

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