British Land: Plenty of commercial property investment opprtunities

05/03/2010 16:35:47

Commercial property investmentopportunities are in plenty in the UK but British Land, one of the biggest operators in the market, is biding its time, reports the Wall Street Journal.

The firm's chief executive Chris Grigg revealed, in an interview with Dow Jones Newswires, that despite there being "good and interesting opportunities" many of them carry the wrong price tag.

He explained that the pace at which the market moved in the last quarter left "everyone" surprised, saying snapping up assets in 2009 "would have been a clever move".

"But I am more focused on the future and I think there will be good opportunities going forward," he stated, adding that he was waiting for banks to start putting their assets on the market.

"What's been on offer [from banks] has been of a higher calibre than some of the stuff they have in their portfolios," he said.

Standard Life Investments recently stated that commercial property investmenthas potential for a 25 per cent return.

Posted by Sarah Dudley

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