Bag a Brexit bargain in commercial property

UK commercial property stocks look unreasonably cheap, says Max King.

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UK property stocks have been hit too hard
(Image credit: Andrew Aitchison)

The malaise affecting domestically orientated UK stocks has hit the property sector hard. While the All Share index returned 1% over one year to the end of July and 27% over three, the FTSE Real Estate sector's returns were 10.6% and 4.5% respectively. Some of this reflects the well-known problems of the retail sector; historic overexpansion, excessive rents, business rates, online competition, and the use of creditor voluntary arrangements (CVAs) by distressed retailers to cut their rental costs and break contracts.

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Max King
Investment Writer

Max has an Economics degree from the University of Cambridge and is a chartered accountant. He worked at Investec Asset Management for 12 years, managing multi-asset funds investing in internally and externally managed funds, including investment trusts. This included a fund of investment trusts which grew to £120m+. Max has managed ten investment trusts (winning many awards) and sat on the boards of three trusts – two directorships are still active.

After 39 years in financial services, including 30 as a professional fund manager, Max took semi-retirement in 2017. Max has been a MoneyWeek columnist since 2016 writing about investment funds and more generally on markets online, plus occasional opinion pieces. He also writes for the Investment Trust Handbook each year and has contributed to The Daily Telegraph and other publications. See here for details of current investments held by Max.