A leading property investor is returning to the sector with a £400 million property investment firm.
One of the pioneers of the London residential boom of the last 20 years is seeking funds for a new
commercial development vehicle.
John Hunter is seeking around £400 million from institutional investors to fund commercial development projects that have stalled due to a lack of finance.
He told the Financial Times that there are at least 20 ventures in the capital that are ready to go as soon as finance can be obtained, so he is looking to step in while banks have clod feet.
"We are trying to do a simultaneous debt and equity raise, with a view that it will be able to be refinanced in the next three to five years. The banks will come back to the market, but we need the firepower now," he told the publication.
One source of continued investment for the capital remains the Middle East, Simon Taylor, head of the commercial department at estate agency LDG, told propertytalklive.co.uk earlier this week.
Foreign investors are attracted by favourable exchange rates due to a weak pound, he explained.
Posted by Hadji Singh.
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