Max to make most of purchasing opportunities

Max Property is keen to make the most of the opportunities presented by the deleveraging process by banks and the commercial mortgage-backed securities market.

Aubrey Adams, chairman of the real estate investment company which was listed in May 2009, said that while the rebound in prices generated fewer opportunities in 2010 to date, he was confident there would be: “some exceptional opportunities for Max arising from this inevitable deleveraging over the next couple of years”.

He said timing was everything and, as it had already demonstrated, Max would have to “wait, watch and strike only when the deals represent outstanding opportunities”. He said: “We have the skills, cash and ambition to do this and remain very excited about Max’s future.”

His comments came on the announcement of interim pre-tax profits down from £17.7m to £10.8m. The company has more than £110m on deposit to provide “a substantial platform” for future acquisitions.