LISTEN There will be a sharp rise in the number of distressed property assets being brought to market this year, according to Watling Real Estate director Jamie Lamond.
Lamond, who is the Radius dealmaker of the month for March with 160,000 sq ft of disposals, says that although the lending markets are structured very differently compared with previous downturns, appointments of administrators and receivers have begun to surge this year and tougher times lie ahead.
He identifies hospitality and the high street as particularly vulnerable, but also expects problems for some assets in the logistics sector as well as London’s office core. However, Lamond believes the situation will not be as profound as the global financial crisis owing to the weight of money still in the market.
