INDUSTRY NEWS

Commercial property could be on the rebound

The commercial property market in the UK could be set to rebound according to a new study, the Wall Street Journal has reported.

Fund manager Legal & General Property has predicted that investors will diversify from equities into property.

The recovery will be led by sovereign wealth funds looking for bargains in a depressed market, it claimed.

The Urban Land Institute for Europe, Middle East, Africa and India have also backed the commercial property market in London for long-term investment.

"London is still seen by investors worldwide as one of a very small number of truly world capitals," William Kistler, president said.

It also has several "fundamental assets" such as airports, infrastructure, human capital and universities – a recent Young Group survey found more than three-quarters of respondents thought residential property values in the city would rather go up or stand still.

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