Revolut's push into commercial property lending just hit a speed bump. Duncan Batty, the company's chief of commercial real estate lending, has departed. A Revolut spokesperson confirmed the move, which also showed up in Companies House disclosures. The company hasn't said why he left.
Revolut brought Batty on in January 2025 to help build out its commercial real estate operation. Before that, he served as a co-leader of M&G Investments' real estate finance platform. His exit comes in under two years from his start date.
Senior departures often say more about strategy than any press release does. Market Briefs covers fintech and property free every weekday.
Anyone hoping for a speedy comeback in UK commercial property deals has been disappointed. The conflict in the Middle East has sharpened inflation worries and kept interest rates higher, which has weighed on transaction activity. Meanwhile, strategies focused on real estate credit have stayed in favor because they benefit from higher rates and can offer more cushion in a downturn. The catch: with deal flow still thin, lenders are jostling for the same opportunities, squeezing margins.
This backdrop matters for anyone eyeing property-linked returns. Credit-oriented real estate plays are still drawing interest thanks to higher yields and stronger downside protection, but muted deal volumes and crowded lender competition can crimp the profits on offer. If you're tracking this space, the signal is simple: the money hasn't left property, it's just getting pickier about how it shows up.
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