Crunching property

21 September 2007 By Ian Campbell

The stellar returns of UK commercial property have taken a sudden downturn, with the sector making a zero return in August. It s probably only the beginning. Capital values are going to fall. But the decline shouldn t be as bad as in the early 1990s.

This content is for Subscribers only

Context News

The Swedish property company CLS Holdings, which is developing the Shard tower in central London with Sellar Properties and a Syrian investor, Simon Halabi, said on September 17 that Negotiations in respect of the funding for the project are at an advanced stage but have, unfortunately, been affected by the recent adverse credit markets. It is hoped that the funding can be finalised in the near future in conjunction with a restructuring of the shareholding structure. We will not commence any major development works until the loan finance has been secured.

Email a friend

Please complete the form below.

Required fields *