Deluge of CVAs hits lender appetite as owners that had been hoping to sell retail assets look to refinance instead.
In the wake of all the CVAs and administrations this year, lender appetite for financing all but the best-performing retail property has fallen away.
Rather than increasing their pricing to compensate for increased risk, many lenders are preferring to sit on the sidelines.
“Lenders are not ‘risk-reward pricing’ certain retail deals – they’re actually just saying ‘we don’t want to lend’,” said James Spencer-Jones, head of EMEA structured finance at Cushman & Wakefield.
You must be logged in to continue
Register for free to finish this article.
Sign up now for the following benefits:
To access this article REGISTER NOW
Would you like print copies, app and digital replica access too? SUBSCRIBE for as little as £5 per week.