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KPMG predicts further commercial property collapse in UK

Posted on 05 June 2009

From Bridgingandcommercial.co.uk: A bleak prognosis for the UK’s commercial property sector has been sketched out by KPMG experts. Richard Fleming, head of restructuring at the accountancy giant, said that rising default rates for office and retail space would mark another “milestone” in the recession that has gripped most of the world’s large economies over recent months.

The UK is one of the nations worst-hit by the downturn, with the economy contracting by 1.9 per cent in January-March and a return to growth only expected in 2010………Full Article: Source


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