The time is right for commercial developments to take-off again, the head of a property investment firm has claimed.
Economic conditions are now right for firms to restart
commercial development projects, it has been claimed.
As
property investment firm Helical looks to expand its portfolio of commercial assets, the company's chief executive Michael Slade is looking to development opportunities as stocks of grade A space begin to dry up.
Projects in central and west London will offer good returns, Mr Slade suggests.
The company has been busy taking advantage of good property investment opportunities in the last year, buying a Glasgow shopping centre as well a 360,000 sq ft commercial development site in the City of London's Aldersgate.
This move back into investment properties marks the start of a re-alignment of the Group's activities as we realise cash from the sale of our industrial and change of use development portfolio," said Helical's chairman Giles Weaver.
The investment director for Standard Life Investments Andrew Jackson recently warned City Wire that the UK commercial property market is heading for a "triple dip", with assets losing up to five per cent of their value by the end of the year.
Posted by Pete White.
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