DTZ sees commercial property recovery

DTZ sees commercial property recovery

DTZ has seen an upswing in activity and business in London and Paris.

Global real estate adviser DTZ has reported signs of growing confidence and activity in the commercial property sector of certain markets, particularly the key European central business districts in London and Paris, which may be good news for those seeking a commercial mortgage.

The UK and Ireland is seeing higher levels of property investment and occupation, according to the firm, whose City leading team recently concluded a major instruction involving the acquisition of a 217,000 sq ft unit for Macquarie Bank Limited.

Additionally, DTZ's retail investment team has been advising Hammerson and Canada Pension Plan Investment Board on the purchase of the Silverburn Shopping Centre in Glasgow for £297 million.

"However, with economic uncertainty remaining around the globe, and our markets showing varying degrees of recovery, we remain cautious," added the firm.

Last month, DTZ predicted that private equity would become one of the preferred sources of finance for the real estate cycle in the year to come.ADNFCR-2843-ID-19673492-ADNFCR
Wednesday, 17 March 2010 00:00
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