Broker wins two contracts as real estate picks up
Heath Lambert is forecasting a pick up in real estate after scooping two major deals in recent weeks.
The Lloyd’s broker has won contracts with Targetfollow, which has a £3bn investment portfolio, and US asset management giant Harbert Management.
Heath Lambert also clinched another major deal, but was unable to reveal the client’s name. All the deals were tied up between May and July.
Head of real estate Richard Cowling said: “We are seeing a lot of foreign companies coming into the UK. People are deciding to return because of the state of the property market and because of currency exchange rates.
“We are seeing business coming in from a number of regions, from the Far East, Middle East, Europe.”
Cowling said investors believed the market had hit the bottom in commercial property and was now on the way up.
“People are saying its at an end, that the commercial property could be coming to the bottom of the cycle. Deals are there to be done.”
Despite the recent success, Cowling said competition was still fierce between brokers.
“Competition in real estate sector is very fierce in terms of brokers where there is quite a lot of movement people wise, and on the underwriting side as well.”
“We have managed to achieve a good level of stability because we are stable team. On the large acquisitions side, we have a good client base and good reputation.”
