Petchey's perspective

Article Abstract:

Some observers suggest Businessman and Millionaire Jack Petchey's interest in small quoted property firms is not to take over the companies but to buy shares when prices are low. Other investors have not shown interest in the smaller companies therefore Petchey is able to buy the shares for less. The acquisitions are being made through Trefick which has purchased shares in 10 firms, valued at 100 million pounds sterling. He is involved in the motor trade and car hire and also has shares in two football clubs. Petchey, who is 73 years old, is known to be circumspect about his business dealings.

Officials and employees, Behavior, Real estate investment, Real estate investments, Businessmen, Petchey, Jack, Trefick

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Going Dutch

Article Abstract:

Dutch bank, ING, owns 65% of fund manager, Baring Houston and Saunders (BH&S) and ING has invested 10 million pounds sterling into the Lionbrook Property Partnership. Lionbrook is a combination of three unit trusts and it will be managed by BH&S. BH&S manages funds worth 930 million pounds. The collapse of Barings Bank badly affected BH&S and ING bought two-thirds of it as part of a rescue package. BH&S manages pension fund portfolios, runs indirect funds and takes care of properties owned by blue-chip companies.

Banking Institutions, Depository Credit Intermediation, DEPOSITORY INSTITUTIONS, Mutual Fund Mgmt Companies, Portfolio Management, Banking industry, Management, Banks (Finance), Mutual funds, Investment advisers, Bank investments, ING Bank N.V., Baring Houston and Saunders

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It's damage assessment time

Article Abstract:

It is anticipated results from the property sector, for the year to Dec 1998, will not repeat the high levels reached in 1997. Companies which own older offices and industrial sites and ill positioned shops may find their results are particularly affected by the economic downturn. The general decline in the retail sector is likely to influence results. The requirement to reveal the cost of debt will also impact results. Capital Shopping Centres is predicted to report growth of around 3.4% for 1998.

United Kingdom, Real estate industry, Capital Shopping Centres

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