| Industry News |
|
| News » Commercial Property Law » Property developer 'taking advantage of low London prices' |
|
21/05/2009
Property developer 'taking advantage of low London prices' |
|
The announcement that Great Portland Estates is raising extra funds for investment in central London commercial property is a sign that it may be planning a major acquisition spree, it has been suggested.
Partner at capital markets team Cushman & Wakefield Clive Bull said the move by the developer to raise £166 million this week was a sign that it is looking to take advantage of current lower prices in the market.
He said this was "so that they can buy what they believe is the right stock to be developed or refurbished at the right time, but go in and buy those relatively cheaply".
Those keen on buying commercial property may wish to speak to a solicitor about the legal aspects of such a transaction.
Mr Bull said that companies like Great Portland Estates will be using the current situation to drive "hard bargains", something that may be easier to do because of recent falls in commercial property prices.
Earlier this month the Investment Property Databank reported that such values fell 8.7 per cent in the first quarter of 2009.
Written by Anthony Dyson
 |
| |
| Related Articles |
08/01/2010
Office demand 'to focus on London'
The commercial property market will recover strongly in London in 2010, in contrast with the rest of the country, it has been predicted.
|
22/12/2009
Commercial property 'to recover slowly from recession'
Commercial property will only recover gradually in the near term as it is likely to be feeling the effects of the recession even after the economy starts growing again, it has been predicted.
|
18/12/2009
Commercial property market 'to pick up in 2010'
The use of commercial property lawyers in 2010 may pick up in the south-east as it has been forecast that the region will see matters improve as the year wears on.
|
16/12/2009
Business confidence increases
The use of business lawyers may be set to increase as a poll of firms has shown that levels of confidence are rising.
|
14/12/2009
New tax rule to "irritate" large commercial landlords
A tax break for cheaper empty properties is "welcome", but those who might use the services of a property lawyer for commercial transactions will go on being "irritated" by the commercial property rate tax they will still have to pay on large ones, it has been argued.
|
News Archive