Property funds in turnaround - commercial mortgages

29 April 2008

In news which may encourage those thinking of taking out commercial mortgages, private investor property funds saw a net inflow for the first time this year in March.

Figures from the Investment Management Association showed a £21 million net influx of cash, compared with a net outflow of £7 million in February, Property Week reports.

It was the first time such funds had enjoyed a positive inflow since September 2007.

The institutional funds did not perform as well, seeing a net loss of £34 million, but this figure compares favourable with the £83 million reduction in February.

A number of localities are reporting a still-healthy take-up of office space.

These include the south Manchester area, which has seen IBM taking up 18,500 sq ft of office space in Sale and BMI Healthcare taking a ten-year lease on a 14,790 sq ft building in Cheadle, the Manchester Evening News reports.