Lloyds Behind £4bn Worth of 2010 Commercial Property Deals
The largest lender to commercial property, Lloyds Banking Group, is said to be behind £4 billion worth of UK commercial property deals for 2010. As investors seek to repay loans to the banking group, they are selling off commercial property assets, meaning that almost one-sixth of all UK property deals carried out this year are linked to Lloyds.
The largest lender to commercial property, Lloyds Banking Group, is said to be behind £4 billion worth of UK commercial property deals for 2010.
As investors seek to repay loans to the banking group, they are selling off commercial property assets, meaning that almost one-sixth of all UK property deals carried out this year are linked to Lloyds.
Richard Dakin, head of corporate real estate business support at Lloyds, said, “The fact that Lloyds is behind £4 billion of the potential £25 billion being transacted overall in the market this year is not well recognised, as it will be achieved through a consensual sale by the customers or through the administrators.”
Concers that the bank would force mass sell-offs of commercial property assets, which could potentially damage the market, are said to be unfounded. Dakin promised that there would be no mass sales, and that the bank was keen to continue to ‘work with its customers wherever possible.’
Lloyds Banking Group has a £30 billion real estate division, which has been described by the Financial Times as ‘troubled.’ It has employed a team of more than 400 people to manage the volume of commercial property loans currently being repayed to the lender.
Resources:
Creator is a business author and has written authoritative articles on the building industry. If you want to be taught more about Bridging Loan or property finance she advice to visit independent financial adviser regulated by FSA.
Processing your request, Please wait....
