Bayern plans £1bn big-lending return

Bayern Landesbank is back in the property lending market with an ambitious target to provide more than £1bn for UK property deals this year. The German bank, led in London by Mike Worley, has told a number of lenders, brokers and valuers that it has up to £1.2bn available for deals. Part of this capital is a new allocation and part is said to be from recently repaid loans. Other banks are finding their new lending constrained because borrowers are not repaying.

Deutsche Bank resumed new Western European and UK lending in Q4 2009, after gaining a Pfandbrief licence to help it to raise funding. Its first UK deal was to provide debt for Said Holdings’ purchase of 5 Churchill Place at Canary Wharf last December. Deutsche Bank provided senior debt and GIC a junior tranche totalling £135m.