Saturday, September 28, 2013

Read into this what you will, it can be viewed in many ways

Hedge fund bets millions in cheap property swoop up north

Toscafund a UK hedge fund has begun snapping up cheap property across deprived parts of the north of England and plans to purchase hundreds of millions of pounds of undervalued commercial property in cities such as Manchester, Leeds, Liverpool and Sheffield as part of a big wager on the UK economy. The fund believes that in the next few years, London’s dominance will slip as other cities benefit from labour and money migrating out of the capital. “You just have to look at the fact that rental yields are three times higher in somewhere like Nottingham than in London,” said Mr Savouri. “It’s an arbitrage that is there to be taken.”

Posted by enuii @ 08:53 PM (1371 views)
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