Both funds and direct. Good (educated) guess - I have an office...

Both funds and direct. Good (educated) guess - I have an office in Mayfair. Spent less than 90 days a year there for the last few years, but back full time shortly.

I empathise with your fire fighting. Sadly, too much time wasted on defense these days and little available for attack.

I have seen deals similar to that you mention. It's a 'no brainer' to me. As you say, with a bit of gearing you can pay your equity back over a decent, shortish hold with govt backing.

I even quite liked One Fleet Place as a punt. 16 years to Denton Wilde (not great I acknowledge) but 7.75%? Bought for 5% in 2005.

The Continent mostly, is just a bit behind on the reality curve. It didn't race away as much, but it still has further to fall.

In a strange sense I think one of the Continents biggest issues is the UK. Over the last 10 years we have seen capital globalise and regions effectively compete. Capital will shift focus to the UK putting pressure on yields elsewhere I suspect. Our friends in CEE who benefited the most from that trend are likely to be a the sharp end of the reversal.

Keep your head down.

See you in Shepherd Market.