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23/11/2009
West End property 'outperforming rest of UK' |
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The commercial property market is set to recover faster in places like London's West End than in the country as a whole, it has been stated.
Media manager at the British Property Federation Andrew Teacher suggested that those needing to use the services of property lawyers will be more common in London.
He remarked: "Everyone wants to be in the areas like the West End of London, compared to other areas where there is little to be gained from investing at the present time."
Such a situation could mean that Westminster lawyers are busier than those elsewhere with commercial property transactions, with Mr Teacher predicting that the market outside London will remain in the doldrums for up to two more years.
The comments come after a half-year trading statement by the British Land Company released last week said that 70 per cent of commercial properties - worth a total of £5.8 billion - have risen in value since June this year.
Written by Pauline Adams
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