Thursday, May 14, 2009

Green shoots starting to turn brown

Green shoots are dashed by £4.7bn loss at Land Securities

"Land Securities dashed any hopes of green shoots in the commercial property sector yesterday when it reported a pre-tax loss of £4.77 billion. " "Francis Salway, Land Securities’ chief executive, said the company would continue to sell assets this year and that there were no buildings in the portfolio that he would not consider selling: We are still seeing downward pressure on rental values. "

Posted by kernow @ 09:10 AM (626 views)
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