Land Securities: London still attractive investment spot | 24 August 2011
The chief executive of Land Securities has stressed that London is a great place to invest in commercial property.
In an interview with The National, Francis Salway described the capital as an attractive place to do business and underlined his belief that there is a real appetite for investment there.
In reference to Land Securities’ decision to build speculatively following the global downturn, he explained that getting started on projects such as the Walkie Talkie – AKA 20 Fenchurch Street – has given the group a head start on their rivals.
Mr Salway said: “We were the first to restart developments in London as we saw a supply constrained market emerging as there were a higher than normal level of lease expiries due from 2013, particularly in the City market.”
The publication noted that images of looters rioting cannot have impressed overseas investors considering putting their money into London commercial property, but the Land Securities head was not the only one to defend the city’s prospects.
Adrian Wyatt, chief executive of Quintain, described long-term prospects in the capital as “robust”.
This sentiment was echoed by Savills chief executive Jeremy Helsby, who told the Financial Times he has seen no adverse effect at all since the riots.
In his opinion, the fundamental attraction of investing in London has not changed at all.
Written by Paul Smithson on behalf of Qube Global Software
While posted by Qube Global Software all views expressed are not necessarily those of the company. All facts are verified where possible directly by the author.
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