CITYWATCH A TOUGH SELL

摘要

Those who believe the worst is behind us this week cited the London Residential Opportunities fund launched by former Redraw boss Paul Pedley.rnThose who believe it is not, pointed to the failed attempt by land buying fund Landbank to attract enough investors for a flotation.rnWhile the former hopes to make cash from the rental market and the latter planned to wheel and deal in land, the collapse of Landbank must be a concern for Pedley as he tries to build his book of investors.rnSpeaking a year to the day after housebuilders reached their share price nadir (see graphic), Steven Morgan's ex-right hand man at Redraw said: "A year ago it would have been more difficult and if we'd left it another year we would have missed the opportunity."