INDUSTRY NEWS

Strong return for commercial space in London

Research conducted by Investment Property Databank has shown that London office space has seen its strongest figures yet compared to the past four years.

The figures showed that the industry delivered a 14.5 per cent return compared to 2009 when a return of only 2.2 per cent was recorded.

Phil Tily, managing director, said: “A combination of global as well as domestic economic forces are fuelling this.

“A clear divide has returned to the UK property market- London versus the rest of the UK – which will be exacerbated as the impacts of the government’s budget cuts take hold during 2011.”

The retail industry has seen a major increase specifically in the public house sector, with more investors looking to finance buying a pub.

Initial thoughts towards the sudden increase have been accredited to the VAT increase and the sudden rush to buy or invest in retail property now rather than later.

Commercial property news brought to you direct from DeVono Cresa, specialists in London office space.

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