Friday, February 8, 2008

A popular investment slips

British Land writes off £1.4bn from value of commercial property

Britain's second-largest property developer was forced to cut £1.4bn from the value of its offices and out-of-town retail parks yesterday in response to the credit crunch and failing investor confidence. "We said in 2006 that the market was overpriced. We sold property and fixed our loans when rates were low," said the chief exec.

Posted by alan @ 06:11 PM (434 views)
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