INDUSTRY NEWS

Heron: London is the place to be

Gerald Ronson, chief executive of developer, Heron International, has put his faith in commercial property in London and said the capital "is the place to be".

"I am confident not only about commercial property but also central London residential property," City AM reported him saying.

He explained that property is a long-term investment and the industry needs to offer the best assets in the most desirable locations.

Mr Ronson claimed the current difficulties in commercial property markets are an opportunity to make wise investment "and it is during these times that we believe we are most likely to identify opportunities," he noted.

The commercial property industry is awaiting the Investment Property Databank monthly index, released next Monday, which should better illustrate the state of the market.

Mr Ronson concluded that it is "those of us with sound foundation and long-term vision who will survive the storm and come and stronger and wiser the other side".

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