Investor looks to UK commercial property

Posted on Posted in INDUSTRY NEWS

Commercial property firm, Segro, is looking to UK and Europe for its next investments.

The company’s chief executive officer, Ian Coull, said occupier demand has continued in all the firm’s markets despite downward pressure and weakness in financial markets.

"We are seeing some signs of investment activity returning generally," he commented, "and will, ourselves, be seeking to test the market in the coming months with a view to possible renewed recycling of capital – both in the UK and in Continental Europe."

Segro announced it completed 1.2 million sq ft of developments this year and more than 1.8 million sq ft of lettings. Its first management statement of 2008 announced it has 3.7 million sq ft under development, half of which is already sold or let.

Mr Coull said: "Despite the continuing negativity of sentiment in investment markets, occupier demand has held up well across all our key markets."

Much of the recent investment in commercial property in London has originated from funds based in Germany and the Middle East.

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