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Commercial Property News
Helical Bar sees commercial property recovery stalling
Since reporting to Helical Bar shareholders on 3 June 2010, the company said in it's interim management statement today that there has been further evidence to support their view that the previous strong recovery in property values is stalling.
Michael Slade, Chief Executive, said:
"We can report good operational progress across all areas of the business. We find ourselves in the happy situation of having both cash and bank facilities available, whilst at the same time we are seeing more and more opportunities. We will only target those assets where we can deliver exceptional capital value and income growth. Our active asset management programme continues, illustrated by a number of new lettings and lease renewals, which will significantly increase our annualised rent roll.
"Whilst the outlook for commercial property remains uncertain, we believe that now is the right time to selectively progress our development pipeline, especially in Central London offices and larger residential projects, where we expect to see outperformance."
Michael Slade, Chief Executive, said:
"We can report good operational progress across all areas of the business. We find ourselves in the happy situation of having both cash and bank facilities available, whilst at the same time we are seeing more and more opportunities. We will only target those assets where we can deliver exceptional capital value and income growth. Our active asset management programme continues, illustrated by a number of new lettings and lease renewals, which will significantly increase our annualised rent roll.
"Whilst the outlook for commercial property remains uncertain, we believe that now is the right time to selectively progress our development pipeline, especially in Central London offices and larger residential projects, where we expect to see outperformance."
Wed, 21st Jul 2010