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City Report Highlights Innovation in Property Financing

LONDON-A new report from the Corporation of London and the RICS Foundation highlights the growing use of innovative financial techniques in the property sector. But it found that the innate conservatism of many property professionals is hampering flexibility.

By Graham Parker | Updated on September 04, 2001

LONDON-The pace of change in the property sector is increasing, according to a new report by Reading University for the Corporation of London and the RICS Foundation. But the report detects a continuing resistance to innovation within the industry.

The report, ‘Financial Innovations in the UK Property Markets,’ says new financial techniques are becoming more common. Debt- and asset-backed securitisations like British Land’s £1.5 billion ($2.175 billion) deal at Broadgate in the City, are an increasing part of the property investor’s armoury. At the same time, new securitised investment vehicles are emerging.

In part, this reflects the globalisation of the property industry with most large UK agents now part of world-wide alliances, claims the report. And it also says that the increasing role of investment banks and management consultancies in the sector has brought in experience from other capital markets.

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