New REIT for UK as opportunities grow
Andrew Jones, who previously ran the £5bn retail property portfolio at British Land, is heading up a new company called Metric Property that has plans to float on the London Stock Exchange in a £150m IPO.
Metric Property is hoping to take advantage of the downturn in retail property values in the UK and says its plans have attracted strong interest.
Jones will be working alongside Valentine Beresford and Mark Stirling, who were also previously at British Land. He said he is currently seeing a lot more opportunities for acquisitions than at the end of 2009, and added that the pressures of refinancing had “turned reluctant vendors into motivated ones”.
