Commercial property hope

There are signs the 'worst storm in real estate history' might have passed, after British Land revealed the value of its portfolio increased by 1.4% in the second quarter of the year. The UK's largest landlord and developer said that 70% of its properties had increased in value since June, with a positive shift in investor appetite combined with limited stock benefitting market valuations. It added that transaction volumes had however remained low, while rental income grew 0.7% overall, as a result of a 2.7% rise in retail rents, but a 2.3% decline in offices. While optimistic for the future, Chris Gibson-Smith, British Land chairman, said he was mindful that the waves caused by the financial maelstrom of the last two years had not yet settled.
 
 
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