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Rising Public Debt Encouraging European Sales

LONDON-The government in the UK looks to sell up to £20 billion of commercial property and related assets during the next 10 years, with other countries following.

By Allan Saunderson | Updated on June 23, 2009

Allan Saunderson is managing editor of Property Finance Europe and a contributor to GlobeSt.com.

LONDON-Rising public debt levels in response to the global banking crisis and recession is likely to continue to encourage a new wave of government property sales across Europe, according to new research from CB Richard Ellis.

The report follows the UK government’s announcement that it is to sell up to £20 billion of commercial property and related assets during the next 10 years while generating a further £5 billion in annual operating cost savings. With other governments also developing similar plans, the report analyzes the investor appeal of such assets in the current market and considers the potential for these dispositions to become a more powerful global trend. The CBRE report, Governments Turn to Property Sales? considers the scope for sales of state in major markets including France, Germany, Greece and the UK.

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