Calls for REITs to be delayed - papers 7th February

Martin Barber, who also founded CenterPoint, an American Reit, told the paper: “The Treasury should step back and think again and make sure they get it right. Unless there are major changes, this whole legislation will be a complete waste of time.” Barber’s comments echo growing fears in the property industry that, after a 20-year campaign, the latest plans to introduce tax-efficient Reits in Britain are doomed unless significant revisions are made to limits on debt levels and to a proposed 10% cap on the shareholding for any one investor. Fresh fears have arisen in the past few days ...