News

London property market outlook 'strong despite riots'

10/08/2011 11:03:08

London property market outlook 'strong despite riots'

It is likely that the London property market has nothing to fear in terms of its long-term outlook in light of the recent rioting, according to the chief executive of Quintain Estates.

In an interim management statement released today (August 10th), Adrian Wyatt said he had a positive view of the future of the capital's property sector and noted that his company made sound progress in the first quarter of 2011.

"Over the past few days, we have seen social unrest in London and turmoil in the financial markets," he remarked.

"Of course, in the short term this adversely impacts on sentiment; however, I firmly believe over the long term London prospects remain robust."

Quintain Estates provided updates on schemes including its Wembley City development - which will include 910,000 sq ft of London offices - as well as the Greenwich Peninsula, which features the Peninsula Central business district and some 3.5 million sq ft of commercial accommodation.

It said it has now agreed heads of terms for around 10,500 sq ft of offices at Mitre Passage with a provider of serviced space at the latter project.

Posted by David Hudek

News provided by Adfero in collaboration with Mellersh & Harding. Please note that all copy belongs to (c)Adfero Ltd and does not reflect the views or opinions of Mellersh & Harding unless explicitly stated.ADNFCR-2799-ID-800695099-ADNFCR

Back to article list

Related Articles

Council Protection Plan for St James’s and Mayfair
29/01/2014 17:32:12
Westminster Council has launched a consultation aimed at tightening the protection of spec...

Business Rates are on Cameron’s Agenda
29/01/2014 17:29:19
On Monday at the Federation of Small Businesses Conference, David Cameron confirmed that t...

Great Portland Estates exchanged contracts to sell 20 St James's for £54.5 million
06/01/2014 15:37:57
Great Portland Estates have now exchanged contracts to sell 20 St James's Street, SW1 for ...