Company ''well placed'' to see out market fall - commercial mortgages

22 January 2008

Commercial property firm Land Securities has said it is well placed to rise out the storm of the recent property slide due to foreseeing events and offloading a large amount of stock last year.

The company said it sold £507.8 million worth of property from its portfolio during the third quarter of 2007, The Business Desk reports.

Despite this, the firm still made further investments in commercial property where it saw a good long term future, which may interest those with commercial mortgages.

It took up a 75 per cent stake in the Trinity Shopping Centre in Leeds, one of several interests it has in the sector in West Yorkshire.

These include the White Rose Shopping Centre and Leeds City Plaza.

Commercial property investment in the retail sector may have been boosted by news that not all of it has seen poor sales results in recent times.

Supermarket chain Morrisons reported a 9.5 per cent rise in sales over the Christmas holiday period today.