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16 March 2010
Lenders have increased appetite but lack product and
development finance is back
International real estate advisor Savills has today (16 March
2010) named the UK commercial property market's top 21 lenders for
2010 with an appetite to lend...
16 March 2010
Savills sell stunning marina villa hotel
Savills Hotels has sold the stunning Marina Villa Hotel,
Fowey to a private buyer and former client of the healthcare
team.
12 March 2010
Competitive bidding at Savills auction as locals take on
nationals
Savills has completed it first commercial auction of 2010 on
Monday 1 March, achieving an overall success rate of 88%. The sale
took place in The Ballroom at ...
12 March 2010
Sharpest rise in commercial development activity since May
2007
View key summary and full Commercial Development Activity
press release
11 March 2010
Edinburgh office tenants set to benefit in 2010
According to Savills research, office occupiers looking for
new space in Edinburgh are set to benefit from attractive lease
terms in 2010 as landlords recogni...
05 March 2010
A green opportunity for investors large and small
Savills Energy is selling a 50% share in a proposed wind farm
development in Aberdeenshire.
27 February 2010
Exceptional golf investment opportunity
A golf course investment in Hampshire has come onto the
market following the demise of the head lessee.
27 February 2010
Superbrand Savills remains top in Real Estate
Savills has been ranked the best Business Superbrand in the
Real Estate advisory sector for the fourth consecutive year.
25 February 2010
Crafty new letting at Queens Retail Park, Stafford
British Land on behalf of the Hercules Unit Trust,
represented by international real estate advisor Savills and
Wilkinson Williams, has let Unit 4b at Queens ...
25 February 2010
Poundland drives further letting success in Dewsbury
Ravenhill Estates, advised by international real estate
advisor Savills, has let units 19-23 at The Princess of Wales
Precinct in Dewsbury, West Yorkshire to Poundland.
25 February 2010
Hatrick deal success for Herbal Inn
Herbal Inn, represented by international real estate advisor
Savills, has recently taken three new units in Lakeside, Enfield
and Hastings.
25 February 2010
Next phase of estate regeneration gets go-ahead in
Stockwell
Lambeth Council has resolved to grant planning permission to
Community Trust Housing; part of Network Housing Group, for the
redevelopment of Cumnor and Lidco...
15 February 2010
Landmark planning decision gives green light for 'Earth
Dwelling'
A self sufficient rural home is to be built at Bow Brickhill,
Buckinghamshire, after Planning team in Milton Keynes secured
planning permission on behalf of the landowner.
12 February 2010
Top end London Residential market defies pull of
gravity
The prime central London property market has made a strong
start to the year, for now defying expectations that demand would
subside and stock levels increase...
12 February 2010
Buy to let investors must balance yield and value
growth
Buy to let yields have been boosted by lower residential
property prices but they remain well below peak and vary
significantly according to location and prop...
Lenders have increased appetite but lack product and development finance is back
International real estate advisor Savills has today (16 March 2010) named the UK commercial property market's top 21 lenders for 2010 with an appetite to lend from £30 million upwards.
Savills previously published in October 2009 a list of 23 lenders with ambitions to lend from £20 million upwards. Savills has since increased its definition of bigger ticket lending from £20 million to £30 million in recognition of an increased appetite for lending across the market. Many other lenders, including lenders no longer appearing on Savills bigger ticket list, continue to be active in the smaller lot sizes above £10 million. New additions to Savills' list are Aareal Bank, Bayerische Landesbank and Deutsche Bank, all of German origin. Indeed, of the list of 21 top lenders, 13 (60%) are German lenders.
- Aareal Bank
- Aviva
- Bank of London and Middle East
- Barclays Bank
- Bayerische Landesbank
- Canada Life
- Deka Bank
- Deutsche Bank
- Deutsche Pfandbriefbank
- Deutsche Postbank
- D G Hyp
- Eurohypo
- Helaba
- ING Real Estate Finance
- Landesbank Baden-Wurttemberg
- Landesbank Berlin
- Lloyds Banking Group
- Nord LB/Deutsche Hypo
- Royal Bank of Scotland
- Santander
- Westdeutsche Immobilienbank
The firm states that a major feature of the current lending market is a scarcity of good quality lending opportunities, which is holding back lenders from realising their ambitions. Over the past 12 months, fewer commercial investment properties have come to the market, and in many cases the better quality investments have been purchased by cash buyers, often from overseas. This has resulted in fewer opportunities for lenders. One consequence of this is that for better quality property investments, loan to values have increased and interest rate margins have decreased as lenders compete with each other for business.
Savills also reports that the provision of development finance has re-emerged into the market. It has named the following organisations that will provide site acquisition finance and in some cases construction finance:
- Barclays/Barclays Wealth
- Close Brothers
- Eurohypo
- HSBC/HSBC Private Bank
- Investec
- Lloyds Banking Group
- RBS/Nat West/Coutts
William Newsom, Savills UK Head of Valuation, says: "I am very pleasantly surprised by the number of lenders who are prepared to provide development finance, mostly for residential schemes. In the late 1990s the development finance markets were closed for half a dozen years. In this cycle we have seen the markets reopen again after only two years albeit on cautious terms."
Editors notes:
Savills list is compiled from a database of over 100 lenders.
CONTACT INFORMATION
For further information please contactWilliam Newsom
+44 (0) 20 7409 8780
wnewsom@savills.com
Victoria Cambridge, Savills Press Office
+44 (0) 7870 999 653
vcambridge@savills.com
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