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This is the highest figure since 1992 and shows a 60% increase on the previous quarter with Pension Funds adding 6 million to their holdings and Investment Trusts million . commenting on the figures said, UK property performance is currently in the Premier League Total returns of 15% plus justify the institutions' confidence in the sector .


Continuing rental growth brought about by strong tenant demand and a still limited supply of new buildings. He adds, Finance for speculative development, which has so often been a feature in the past is still restricted. Shortage of office and retail supply in particular, maintaining the strong performance in these sectors Landlords are now able to negotiate higher rents and longer occupational lease terms adds John Stephen, In the London office market 15 year terms are now the accepted norm and 20 year terms are not unusual.

The currently robust market has absorbed these increases, but we can expect to see an increase in tax avoidance schemes to counter the threat of any future stamp duty increases, predicts John Stephen Even the hint of a further increase could have the effect of decreasing the amount the Government receives.

With long term interest rates now very low and equities looking skittish the fundamental attractions of UK real estate remain long, concludes Malcolm Naish. Facing a distinct lack in supply of investment grade property UK institutions continue to encounter stiff competition in purchasing real estate. For the most accurate valuations for your residential and commercial properties in Victoria, contact Valuations VIC today and experience the difference. According to John Stephen, 42% of London commercial investment purchases in 1997 was by overseas investors While 1998 may see a reduction in this figure as some Far Eastern and German investors adjust their buying requirements this could be replaced by an influx of US money into Europe which is now beginning to gather real momentum.

Malcolm Naish concludes Investor demand in the property sector will remain high while occupier demand is sustained . Acting on behalf of Scottish Provident, Jones Lang Wootton has completed the final letting of surplus space within 3 Lombard Street The first floor (610 sq m - 6567 sq ft) has been let to the Italian Cariplo Bank as expansion accommodation from their existing space within the building A lease to 2011 was agreed at a rent of £36 psf, with a market rent free period.