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UK 'dominating' European retail commercial property market
The UK was one of four countries to dominate the European retail commercial property investment market in the fourth quarter of 2009, according to a new report.
Figures from Jones Lang LaSalle showed that over 40 of such deals took place in the country between October and December last year, with their total value being €2 billion (£1.7 billion) - double that of the previous three-month period.
The sale of Glasgow's Silverburn shopping centre for €328 million and Tesco's disposal of a portfolio of supermarkets to a UK pension fund at a cost of €427 million were two of the biggest deals to take place over the period, the firm noted.
Germany, Italy and France also recorded strong performances in this sector of the business property market and head of European retail capital markets Jeremy Eddy predicted the trend will continue this year.
"We are expecting a strong start to ... 2010 across Europe," he remarked.
Earlier this week, Jones Lang LaSalle revealed that all-property returns in the UK market hit 10% in the final quarter of 2009.
Figures from Jones Lang LaSalle showed that over 40 of such deals took place in the country between October and December last year, with their total value being €2 billion (£1.7 billion) - double that of the previous three-month period.
The sale of Glasgow's Silverburn shopping centre for €328 million and Tesco's disposal of a portfolio of supermarkets to a UK pension fund at a cost of €427 million were two of the biggest deals to take place over the period, the firm noted.
Germany, Italy and France also recorded strong performances in this sector of the business property market and head of European retail capital markets Jeremy Eddy predicted the trend will continue this year.
"We are expecting a strong start to ... 2010 across Europe," he remarked.
Earlier this week, Jones Lang LaSalle revealed that all-property returns in the UK market hit 10% in the final quarter of 2009.
Fri, 29th Jan 2010