Valad prepare multi-million commercial property raid

Valad Property Group is preparing a £500 million assault on the devalued business real estate sector.

The group is busy raising capital, borrowing around £150 million, with the Bank of Scotland among its chief creditors.

Managing director of Valad, Didier Tandy, revealed that the group had been thinking about major investment for some time and was now poised to act.

"While we have been an active investor and trader in the UK market over the last decade, we have been patient in the past year," he said.

"With the market place now starting to provide interesting opportunities, this new fund allows us to ramp up our activities and actively target distressed or mispriced assets," he added.

Meanwhile, the news that Valad was preparing for new investment in the sector has caused the company's shares to rise by more than eight per cent.

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