Simples Posted June 7, 2009 Share Posted June 7, 2009 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. Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted June 7, 2009 Share Posted June 7, 2009 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? Quote Link to comment Share on other sites More sharing options...
Simples Posted June 7, 2009 Author Share Posted June 7, 2009 Apols - the link http://business.timesonline.co.uk/tol/busi...icle6445954.ece Can't edit into OP yet for some reason. Quote Link to comment Share on other sites More sharing options...
BLOW FLY Posted June 7, 2009 Share Posted June 7, 2009 Have no fear, Alan Sugary and his road show will save everyone....... BF Quote Link to comment Share on other sites More sharing options...
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