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London Sees Commercial Property Revival

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http://www.bloomberg.com/news/2010-12-07/city-of-london-construction-lull-ends-as-increase-in-rents-fuel-a-revival.html

City of London Construction Lull Ends as Increase in Rents Fuel a Revival
By Andrew "Andy" Blackman and Peter "Pete" Woodifield - Dec 7, 2010 12:01 AM GMT
City of London office construction is set for a resurgence after a lull of more than a year as the first of at least four projects breaks ground in 2011.
Bloomberg LP’s plan to build its new European headquarters in the financial district is the biggest City development to be announced since UBS AG agreed in August to add a property to the Broadgate complex. Bloomberg, the New York-based parent of Bloomberg News, said yesterday that the project will comprise one building with more than 500,000 square feet (46,000 square meters) of space and another “speculative” property.
City of London real estate is becoming attractive again to developers such as Land Securities Group Plc and British Land Co., both of which revived office projects in October to take advantage of rising values and rents. Prices have recovered since August 2009 as the weak pound fueled demand from overseas investors and financial-services companies competed for a dwindling amount of new office space becoming available.
“A little bit of confidence is returning,” Elaine Rossall, head of central London research at U.S. broker Cushman & Wakefield Inc., said in an interview. “Those companies seeing their prospects improving are starting to accommodate that growth.”

If the City is in full recovery what might that do to HPI? :o

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reporter announces his own firm is buying property due to rising rents, aims to rent property.

In other news, butchers announce that fillet steak is going through the roof...better stockup now.

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Is this deliberate reverse psycology RB? I can't believe you've really thrown the towel in as some are saying.........

I am afraid so as I can see that the government in cahoots with their bankster overlords are doing everything to prevent a decent HPC. The post about DC getting the banks to loan to the troops is just one example of official anti-HPC policy. This country is reverting to its long term divide between the haves and have nots.

I am looking at properties in San Diego, CA where I used to live for a few years. I still have a few more years in the Uk to finish my "contract" and cannot afford anything without depleting my retirement fund completely.

Like I have said on other threads--we may see another 10% down from here but the BTL brigade armed with government and bankster sponsored money will take over where the bottom feeders used to buy.

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http://www.bloomberg.com/news/2010-12-07/city-of-london-construction-lull-ends-as-increase-in-rents-fuel-a-revival.html

City of London Construction Lull Ends as Increase in Rents Fuel a Revival
By Andrew "Andy" Blackman and Peter "Pete" Woodifield - Dec 7, 2010 12:01 AM GMT
City of London office construction is set for a resurgence after a lull of more than a year as the first of at least four projects breaks ground in 2011.
Bloomberg LP’s plan to build its new European headquarters in the financial district is the biggest City development to be announced since UBS AG agreed in August to add a property to the Broadgate complex. Bloomberg, the New York-based parent of Bloomberg News, said yesterday that the project will comprise one building with more than 500,000 square feet (46,000 square meters) of space and another “speculative” property.
City of London real estate is becoming attractive again to developers such as Land Securities Group Plc and British Land Co., both of which revived office projects in October to take advantage of rising values and rents. Prices have recovered since August 2009 as the weak pound fueled demand from overseas investors and financial-services companies competed for a dwindling amount of new office space becoming available.
“A little bit of confidence is returning,” Elaine Rossall, head of central London research at U.S. broker Cushman & Wakefield Inc., said in an interview. “Those companies seeing their prospects improving are starting to accommodate that growth.”

If the City is in full recovery what might that do to HPI? :o

They're just trying to attract some more muppet money in before the next leg down.

I live on the edge of the City and there are loads of empty offices around - maybe things are slightly better at the top end, but I doubt that will last either. Bad fundamentals.

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I love it.

Remember when house prices started falling in 2007-2008 recession wasn't here untill the end of 2008. So prices where falling without the recession.

Prices are to high, credit is hard to get, with all the data pointing to recovery and inflation picking up, interest rates will be going up.

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Shame on you realist bear. I have been following your news titbits and commentary for a long time. I am now supposed to believe that all of a sudden and in the middle of a huge global financial crisis that you have turned to the dark side.

What has happened to the poisons hatching out in the mud ?

Will the real realist bear please stand up as you sir are an imposter.

Edited by history repeats

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If the City is in full recovery what might that do to HPI? :o

Why should it do anything? A lot of people seem to think there's a relationship between the commercial and residential property cycles, but is there? There's no necessary, causal one that I can see, however if there been any research on it I'd like to see it.

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Why should it do anything? A lot of people seem to think there's a relationship between the commercial and residential property cycles, but is there? There's no necessary, causal one that I can see, however if there been any research on it I'd like to see it.

Well - don't ask me for data, but it's a given amongst the city E.A. boys that banker mega-bonuses fuel top end property prices in desirable city locations such as Canary Wharf etc. And the reverse has the reverse effect. Therre was a curious apocryphal glitch during the oh-too-short slump in 2008 when a whole lump of Canary Wharf stuff came flooding onto the market artificially raising the average price. Trying to prove it is another matter, m'lud !

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Well - don't ask me for data, but it's a given amongst the city E.A. boys that banker mega-bonuses fuel top end property prices in desirable city locations such as Canary Wharf etc. And the reverse has the reverse effect. Therre was a curious apocryphal glitch during the oh-too-short slump in 2008 when a whole lump of Canary Wharf stuff came flooding onto the market artificially raising the average price. Trying to prove it is another matter, m'lud !

I'll go a step further.

Any sustained increased activity in the top end of the market artifiically drags prices upwards in our shoddy so-called indices.

When the rich buy in droves, they raise average property prices.

And when they panic-sell in droves, the same happens.

There's a lot going on behind every month's Nationwide or Halifax that needs discounting before swallowing it alll hook, line ...

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  • 284 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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