More carry on local authority

Following on from my recent blogposts on the strange expansion of local authority investment in commercial real estate assets, Real Capital Analytics’ Tom Leahy has provided some hard (rather than anecdotal) evidence of the phenomenon.

RCA data shows commercial real estate investment by this buyer group has leaped in the last two years and in the 12 months to the end of March local government buyers deployed capital totaling £1.75b – six times the long-term average volume.

 

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