London’s commercial property market continued to grow in April thanks to a particularly strong performance from the industrial sector, propertywire.com reports.
According to the latest monthly index report from CBRE, industrial property return grew by 1.5 per cent last month, the largest increase across all main segments.
Capital values in the industrial sector rose by one per cent during April, marking the twelfth month in a row that growth has been recorded.
The office sector also performed well for the month, with capital value growth of 0.8 per cent. Total return was recorded as 1.3 per cent. Interestingly, though, office space on the outskirts of London outperformed that in the centre of the city.
CBRE researcher Aleksandra Starczynska was quoted by costar.co.uk as saying: “This month Outer London/M25 offices recorded more rapid capital value growth than Central London offices, for the first time in seven months.
“In fact, this is only the third time offices in Outer London/M25 have seen higher monthly capital value growth than in Central London over the past five years.”
Improvement continued for the retail market, where total return and capital growth were recorded at 0.5 per cent and one per cent respectively. More specifically, high street units and retail warehouses outperformed shopping centres in April.
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