Rates of impact

Article Abstract:

If base rates in the UK increase by 1% it is predicted that investment into property would be reduced, particularly if the increases were anticipated to last over a long period of time. Some observers suggest that investment into property is still worthwhile and that rental values of office buildings in Central London are likely to grow. A property company such as Great Portland Estates would benefit with an increased profit of 3% if the base rates rose by 1%, due to its large cash deposits and small level of debt. In contrast the British Land company would suffer a 4% fall in profits.

United Kingdom, Economic aspects, Monetary policy, British Land, Great Portland Estates

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REITs pounce on car parks

Article Abstract:

National Parking Corp, the parent group of the UK's NCP car parks operation, has been purchased by US consumer services concern Cendant for 801 million pounds sterling. It is anticipated that Cendant will sell the property assets involved in the deal, which are valued at up to 450 million pounds sterling. The possibility of this sale has attracted interest from two US real estate investment trusts (REITs). It is already known that US REITs are keen to invest in the UK property market.

Automobile parking, Parking Lots, Parking Lots and Garages, Planning, Mergers, acquisitions and divestments, Real estate industry, Avis Budget Group Inc., National Parking Corp.

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Cross-border property bulls

Article Abstract:

Schroders International Property Fund (SIPF) has been very active in cross-border investment since it was formed in 1991, and now has a portfolio which includes properties in seven European countries, according to managing director Jeremy Lewis. It has been boosted by the strength of its parent company, UK merchant bank Schroders, and its activities reflect the bank's international culture. It regards itself as a fund with a transparent, efficient corporate structure.

Management, Interview, Schroders International Property Fund, Lewis, Jeremy

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