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)
One thought on “Rent seekers: go to [email protected]!”
Add a comment
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user´s views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
auntie says:
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?