Distressed Assets Seminar Report – July 8th 2010
Bold Spirit held another well attended Distressed Assets seminar on July 8th at London’s Institute of Directors on Pall Mall. The seminar allowed us to talk about current UK property market conditions as well as explain what we do and how our services can help the investor to make the right decisions in a changing market place. Topics covered included how to source distressed investment property, the legal considerations of purchasing properties of this type and current investment opportunities.
The seminar began with our Head of Property, Henry Powell-Jones, giving an overview of current economic conditions and a look forward to the remainder of 2010 and 2011.
In particular the performance of the UK housing market was looked at in historical context using repossession data from the Council of Mortgage Lenders and the latest figures from Nationwide, Halifax and RICS. Henry also covered the coalition government’s emergency budget and the impact it may have on the wider economy and, by implication, the property market.
This was followed by detail on the market in financially distressed property including where to find a suitable proposition, what criteria to look for and how to structure and manage the buying process.
Henry then handed over to Brice Robinson, our Head of Financial Services, who spoke about what finance is available to the investor post credit crunch and a snap shot of individual lenders and their current (and constantly changing) attitude to lending on residential property.
Finally, using case histories, we demonstrated the strong returns that Bold Spirit has already delivered to our clients this year, as well as current projects. Questions were taken at the end of the Seminar, some of which were answered later on over a beer in the IOD bar. The next Distressed Assets seminar will take place in September 2010.
