West End properties deliver huge returns in July | 13 August 2012
Commercial properties in the West End have retained their reputation as the ‘jewel in the crown’ of the UK market.
The latest figures from the CBRE Monthly Index show that West End properties delivered returns of 1.0 per cent in July, which is five times higher than the UK average.
Properties in London as a whole fared well, driving overall returns of 0.7 per cent, although the fantastic performance of West End buildings was a large contributor.
Nick Parker, who is the senior analyst of Economics and Forecasting at CBRE, claimed that the results should encourage property buyers all over the world to invest in London.
Speaking to property-magazine.eu, he said: “It seems apt that amid the ongoing success of the London 2012 Olympics, that the property market in the Capital saw performance improve in July.
“As the Olympics draw to a close and the legacy of the Games ie left in its place, this intense spotlight on London should reinforce the capital as the leading global destination for investor purchases anywhere in the world.”
Bbc.co.uk report that the majority of West End retailers have experienced huge increases on customers visiting their shops during the Olympics. In fact, there was a 13.5 year-on-year increase on the day of the Olympic Triathlon.
Written by Joe Elvin 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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