UK commercial property update and outlook
All Property quarterly total return continued to drift downwards to 5.6% in March, driven by industrial. But to put this in context, All Property total return is running annually at 23% and London multi-let at a quite incredible 51%. Meanwhile office and retail returns are trending at a lower rate but more steadily. All commercial property investment may have dipped to £13.8bn in Q1 but this is still around the long term average and was characterised by strong overseas demand for industrial and London offices.
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