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

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