UK - Key London rents will decline further affecting property investments, commercial property giant Great Portland Estates forecasts.
Chief executive Toby Courtauld – speaking at GPE’s interim results – said: “We expect rental values in the capital to continue their downward trend during the second half of the financial year, particularly in the City market.”
He added that investment markets were beginning to price risk more realistically now than over the last 12 months.
Approximately 20% of Great Portland’s portfolio is in London’s financial district, which has been hit hard by recent economic downturns.
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