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In it together: Property ownership for partnerships

Louis Baker discusses the key considerations in owning commercial property in a partnership or LLP

5 October 2012

Investment in UK commercial property was seen as a good thing prior to the financial crisis: it provided tangible, bricks-and-mortar security and the perception of almost certain capital appreciation. Now, however, the banks have retreated, licking their wounds after fuelling a leveraged property boom, and risk committees are carefully reviewing loan covenant obligations.

Those who are overstretched are being forced to realise some of their assets to meet their obligations. At the same time, banks are approaching property lending cautiously, favouring only the strongest transactions and borrowers, and demanding higher equity input while they rebalance their loan books.

For those with their own financial resources, distressed sellers can provide an opportunity ripe for the taking, and bargains may be found in the commercial property sector.

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