FP's new angle

Article Abstract:

The Friends Provident Property Services fund valued at 1.2 billion pounds sterling is undergoing a radical reorganisation by Managing Director Paul Herrington. He is trying to change the purchasing philosophy of the company and intends to sell property which is not performing well. By Sep 1998 he expects to have reduced the number of properties from 360 to 170. Staffing numbers have also been cut from 70 in 1995 to 45 by 1997. Herrington took over the property fund in Apr 1997. He found that the fund was returning around 7% which was 1.35% less than returns in the Investment Index.

Herrington, Paul, Friends Provident Property Services

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Bargain hunter

Article Abstract:

Argyll Property Asset Managers Managing Director David Hunter is pleased he chose to start an independent company and is looking for ways to extend the business further. Argyll manages property worth some 1.8 billion pounds sterling for eight clients. The sale of Scottish Amicable to Prudential may result in Hunter receiving an additional 200 million pounds sterling to invest. He already manages their 1.1 billion pounds sterling portfolio. Hunter suggests that clients should look for the right type of property rather than try to follow trends in property investment.

Company Profile, Hunter, David, Argyll Property Asset Managers

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Feeling peaky

Article Abstract:

The investment market in the west end of London, United Kingdom, was worth 1.7 billion pounds sterling in 1997, which represents a 42% increase on 1996 investment figures. Analysts believe the market will continue to hold for several more years. Investments are heavily affected by rental prices and there is still growth potential in the area. Some people expect rents to stabilize at 60 pounds per square foot throughout 1999. Investors are expecting to make profits on increased rents instead of falling yields.

Financial Forecasting, Forecasts and trends, Rents (Property), Business forecasting

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