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Commercial Property Threat To Banks

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BANKS are sitting on more than £100 billion of paper losses from their exposure to UK commercial property - more than the combined market capitalisation of Royal Bank of Scotland, Lloyds and Barclays, according to global property consultant Jones Lang LaSalle (JLL).

The staggering figure represents a ticking timebomb for lenders, following a tough two-year spell for the real-estate market.

Office blocks, shops and industrial units are expected to halve in value by the end of this year from their 2007 peak.

Banks have shied away from crystalising losses on their commercial-property portfolios because the figures could bankrupt them.

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I know of one landlord - small-scale really, small shops, etc - who apparently is desperate to off-load his shops and is apparently open to offers.

If I read that article right the banks are now fore-closing on the bust commercial developments because it could bankrupt them??? So much for QE?

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