Commercial rental firm reports 'smallest decline since summer 2008' - commercial mortgages

24 July 2009

A London-based property firm has revealed its smallest decline in income since summer last year.

Great Portland Estates revealed that the value of properties fell by £54.9 million in the last quarter.

However, there was just a 5.1 per cent drop since March 31st 2009 - the smallest quarterly decline since the end of June 2008.

The company also revealed the signing of 35 new leases as interest in commercial properties shows signs of recovery alongside a possible future increase in the commercial mortgages market.

Toby Courtauld, chief executive of Great Portland, explained: "We are now seeing an increase in investor demand for well-let, small lot size, prime assets."

"We are confident that we can exploit these conditions to generate good shareholder returns," he added.

Aviva recently advised investors with commercial mortgages to consider the importance of commercial property insurance and the added flexibility that extra cover could provide.

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