Commercial property investors ‘should buy like hell’

Posted 17/12/2010

A commercial property expert has recommended that investors with the cash to do so should “buy like hell” in order to take advantage of current market conditions.

Mike Slade, chief executive of Helical Bar, said he thinks current valuations and yields represent an ideal time for buying, Mindful Money reports.

He stated that banks are now organising distressed portfolios and institutions are eager to sell assets, creating good deals for “cash-rich investors”.

Henderson Global Investors spokesperson Patrick Sumner said he particularly likes the London office market, because many firms are now looking to expand and take on new leases.

This echoes recent sentiments from Tony McCurley, a representative from GM Real Estate, who said people considering purchasing commercial property could try central London as he expects prime assets in this location to perform strongly in the short to medium term.

The expert suggested that would-be buyers may want to act soon in order to get the best properties.