Mike Slade, head of Helical Bar, has warned that the commercial property market is unlikely to see a significant improvement within the next two years.
Slade is known for his astute judgment of property cycles and was able to hold Helical’s final dividend for the year to 31 March at 2.75p, despite turmoil in the sector.
'My concern is that it is going to dribble along the bottom for at least two years,' he said, describing his forecast as a 'www dot' recovery.
He discouraged expectations that the launch of numerous multi-million pound opportunity funds means the turmoil in the industry is ending. Asset values have fallen by more than 40% since summer 2007 and property veterans Nick Leslau and Leo Noe are among those now returning to the market.