Sunday, February 3, 2008

Rent seekers: go to [email protected]!

Earthquake at British Land as £1.3bn is wiped off portfolio

"the group’s net asset value per share will have plunged by more than 16% since the end of September to about 1,400p a share. That will make it one of the steepest drops in living memory. It would imply a fall of at least 10% in the value of the group’s £13.2 billion property portfolio" ... but of course residential property is different... H AHA HHH AHHAHHA HHAHAAHHAHHAH H... BTLetters your days (hours in fact) are counted

Posted by confused76 @ 08:34 AM (528 views)
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One thought on “Rent seekers: go to [email protected]!

  • Good find confused76! It mentions in the above article that…”Nick Leslau, the private property entrepreneur, is poised to buy a £220m portfolio of London offices from Invista Real Estate Investment Management….”

    I went scouting about him and found this from Nov. ’06
    http://business.timesonline.co.uk/tol/business/industry_sectors/construction_and_property/article641398.ece

    The article looks at a number of property tycoons, including the Tchenguiz brothers…. and it says about them…. “Their Rotch property company has more than £4 billion of property financed 80% by debt. ”

    If they were geared 80% in 2006, and commercial property is plummeting, the whole lot could crumble, or am I missing something?

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