Commercial property in London ‘looks positive for 2011’

Posted 06/01/2011

Anyone thinking of purchasing commercial property during 2011 could do well to look towards London, a new report has suggested.

Property consultancy firm Cushman and Wakefield found that investment transactions in the capital totalled £9.9 billion last year, up by one-third on the figures seen in 2009.

The final quarter saw £1.36 billion changing hands in commercial property deals in the City region alone.

Strong rental growth and the positive position of the city in international markets should continue to make London attractive to investors throughout 2011, the report said.

Cushman and Wakefield spokesperson Clive Bull commented: “With sterling still weak and an increase in stock likely with banks off-loading assets, we are confident that 2011 will see volumes continue to rise.”

In November 2010, Tony McCurley from GM Real Estate also said he expects commercial property in London to perform well this year and recommended grade A or prime assets.