The U.K.'s commercial real estate sector could be gearing up for fierce competition from buyers as funds, expecting more distressed property to come to market in the next two years, plan to snap up prime properties in hope of a recovery.
The market offers the potential of lucrative returns for overseas investors, in particular.
"The U.K. is attractive to overseas equity as values have fallen 45% peak-to-trough" and sterling has lost ground this year against major currencies such as the U.S., the euro and the yen, said James Thornton, founder of Mayfair Capital Investment Management, adding that "it makes for a very liquid market."
Thornton said he saw U.S. and Japanese investors returning to the U.K. market, as well as German open-ended funds, which traditionally have been prominent U.K. real-estate buyers.
Washington Post
Saturday, 31 October 2009
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