Commercial mortgage holders 'investing in attractive and resilient market'

19 July 2010

Written by Steve Olejnik

Commercial mortgage holders with property in central London are investing in a market that has been described as resilient and attractive to foreign speculators.

Property Wire recently reported that overseas interest in the assets had showed no sign of weakness, with many from China, Korea and Malaysia buying space in the city.

"Five weeks ago the fear was that there was too much stock on the market but the appetite of buyers has been voracious," Stephen Down, managing partner of specialist central London investment consultancy Gresham Down Capital Partners, told the news provider.

In the last three weeks, as much as £2 billion was pumped into commercial property in central London, the information source noted, with US fund Carlyle purchasing six office buildings at a cost of £140 million.

This comes after Robin Martin, head of research for Legal & General Property, wrote in the Financial Times that commercial mortgage holders may benefit from taking risks - such as opting for short-term tenancies.

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