A leading property investment firm is looking for further commercial property after posting positive financial results.
Property investment firm Segro has posted positive financial results and is looking to acquire new
commercial development assets.
The UK's largest listed industrial property landlord has announced that the value of its British commercial property portfolio has risen by 1.1 per cent on the first half of 2010.
In addition, net rental income has gone up by 11.3 per cent to £144.3 million inside the last 12 months.
This interest from tenants continues unabated, which is prompting the company to consider more commercial development acquisitions, according to the Segro chief executive Ian Coull.
"We have recently seen an encouraging increase in the levels of enquiries and growing interest in pre-let developments, which we will seek to capitalise on in the second half," he said.
According to the latest report from the British Property Federation, the average length of an agreed commercial property lease has fallen to record low of five years.
Posted by Lisa Fear.
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