The commercial property market in the West End is flourishing, according to a leading property investment firm.
Property investment firm Shaftesbury is upbeat over the prospects of the West End for
commercial development projects.
In its interim management statement, the firm said that it would continue to make purchases in the "buoyant" market as it continues to show a healthy demand from tenants.
Shaftesbury made property investments of £63 million in the ten months to the end of the last financial year on assets near Covent Garden, as well as on Charlotte Street and Berwick Street.
The company's chief executive Jonathan Lane said "unrivalled attractions" in the area are helping the West End flourish despite tough economic conditions.
"We are confident that the underlying strengths of the locations in which we invest and our management strategy will continue to deliver sustained out-performance in income and capital values," he added.
Agent CB Richard Ellis recently claimed that the growth rate for commercial development values slowed to just 0.4 per cent in July.
Posted by Lisa Fear.
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