London hailed as ''best in world'' - commercial mortgages

12 March 2008

London is the best city in the world to do business and still has the capacity to be a strong commercial property centre, it has been claimed.

Delegates from the city attending the MIPIM property conference in Cannes said that the capital was set to ride out the current downturn, with British Land''s head of central London leasing Paul Burgess stating that the creation by the property industry of outstanding premises was helping to bolster the metropolis as a financial centre, Property Week reports.

He added: "Decisions are taking longer and occupiers are definitely more cautious … but all the market fundamentals are still there and they are strong."

Mr Burgess said the occupational leasing market in London at present was "formidable".

Such comments may encourage those with commercial mortgages.

The publication also reported that the conference revealed statistics from CB Richard Ellis, which showed London standing alongside Paris as the top cities for property investment turnover in 2007.