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Ash4781

British Land Chief Warns Of Price Falls And Delays For Office Developments

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http://business.timesonline.co.uk/tol/busi...icle2274317.ece

British Land, the FTSE 100 property developer, has given warning of price falls in Britain’s £700 billion commercial property market and expects several rival office schemes planned for the City to be delayed or scrapped.

Delivering a robust set of figures for British Land’s own £16 billion property portfolio, Stephen Hester, chief executive, said a “realignment in retail [property investment] is going on”, and warned of price falls that are bound to occur in the offices market.

Mr Hester added: “Certainly there will be a realignment in offices. I am not saying when. But it is the reason we have been the biggest seller of offices. Some offices are overvalued and in some cases people have on spectacles that are too rosy.

Earlier this week, Investment Property Databank (IPD), the industry research group, said prices for retail and industrial property in July fell 0.6 per cent and 0.3 per cent respectively.

Realignment in retail prop' but consumer spending stat's from the ONS look 'ok'.

So is the speculative froth going?

Edited by Ash4781

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http://business.timesonline.co.uk/tol/busi...icle2274317.ece

Realignment in retail prop' but consumer spending stat's from the ONS look 'ok'.

So is the speculative froth going?

Seems quite a few directors are selling up.

http://investing.thisismoney.co.uk/cgi-bin...ername=&ac=

One Mr A M Jones just flogged £1,146,831.90 worth of his shares yesterday.

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