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Land Securities Calls Top Of The Property Market (commercial)

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May 16 (Bloomberg) -- U.K. real-estate stocks dropped, led by Land Securities Plc after the company said the value of some properties dropped. British Land Co. and Hammerson Plc also fell.


Demand for sub-prime retail has pushed the gap in yields – the rental income as a proportion of capital value paid – to a record low between sub-prime and prime such as shopping centres and big high streets Oxford Street, Bond Street and Regent Street.
Britain’s runaway commercial property market has peaked, the head of Britain’s biggest property company has warned.

The warning from Francis Salway, the chief executive of Land Securities and in charge of some £14.8 billion worth of assets, will send shivers through the UK commercial property market estimated to be worth about £710 billion.

Despite upping the value of Land Securities by £1.9 billion over the year to end-March, Mr Salway said: “The year end valuation of our investment portfolio showed a slowing in the rate of growth in capital values in the second half of the year. This is consistent with our view that the yield re-pricing of UK property assets is close to having run its course.”

Commercial's turned!

I just hope not too many people ploughed into those UK property ISA's before the April deadline. :(

Edited by Ash4781

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