| Even before the recent turmoil in the banking sector, the value of a big chunk of the London office market was falling fast. The last three weeks have done nothing but help those assets become increasingly unloved. “In the market, we’re seeing some big discounts, but that doesn’t reflect how deep the discount will have to be on some secondary stock,” Art-Invest Senior Investment Manager Jenny Harbord told the audience earlier this week at Bisnow’s Future London Office Investment and Development event. 
Held at Quadrant and Oaktree’s YY building in Canary Wharf, a redevelopment of the famous Thompson Reuters office, Credit Suisse’s 540K SF London office building was visible behind the panellists at the event. With Credit Suisse needing to be rescued by UBS earlier this month, the backdrop was a physical manifestation…  Read the full story here. | | |
