Commercial property management firm plans spending

Commercial property management firm Wrenbridge has announced plans to consider new investment opportunities in the UK.

The developer has become one of the latest companies to state its intention to come back into the market and hopes to buy office, industrial and retail space with a value of up to £10 million.

According to the Eastern Anglian Daily Times, funds for the spending have come from the Palmer GVA Property Fund, which is run by Wrenbridge's part-owners Palmer Capital Partners.

Jamie Hockaday, main board director of the company, told the newspaper that current market conditions represent "the best opportunity for a generation".

He added: "We are looking for property with quality tenants, typically with a minimum 13 years remaining on the lease."

The Financial Times reports that Gerald Ronson of Heron International is planning to bring together a club of investors who are interested in UK commercial property.