Commercial Finance Specialists

The performance of commercial development assets in London is set to be different from the rest of the UK, it has been claimed.

One of Britain's biggest property investment firms has warned that the UK should expect to see a two-tier system in the commercial property market.

Land Securities' chief executive Francis Selway told the London Evening Standard that there will be a definite divide between the performance of commercial development assets in London and the rest of the UK.

He explained: "There is very strong demand, from domestic and international investors, for commercial property in London.

"Outside London we are seeing price resistance from prospective buyers."

Land Securities has now confirmed that it is to proceed with a £350 million retail development in Leeds, in what has been described as the first major retail development since the recession.

The Trinity Leeds Shopping Centre is to provide the heart of the city with 450,000 sq ft of retail space.

Property investment firm Helical claimed earlier this week that the previously strong recovery seen in the commercial development sector is now stalling.

Posted by Tess Nelson.