Firms still buying

Posted on Posted in INDUSTRY NEWS

Purchases by the leisure industry and private investors have proved there is still life in London’s commercial property market.

GuestInvest spent £120 million and bought two hotels, one in Notting Hill the other in South Kensington and Jaguar Capital bought a significant property overlooking the Thames at Southwark Bridge.

Johnny Sandelson, chief executive of GuestInvest said: "Hotels are an area of the commercial property market that are bucking the trend of a general downturn."

The Notting Hill property will be called The Jones and when regeneration work has finished will have 433 rooms.

The Jaguar Properties’ acquisition comprises 231,000 square feet of office space over six separate floors.

The company recently sold Thames Court in the city, making a profit of £54 million on a sale price of £183 million.

Recent falls in commercial property returns have seen investment funds struggle to return cash to their investors.

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