Retail park bought - commercial mortgages

31 July 2008

In news that may interest those with commercial mortgages, a company has given a vote of confidence in the commercial retail sector in Leeds by making a new investment in the city.

Rushbond has spent £4.5 million acquiring Spectrum Park, a retail park that was owned by Standard Life Investments, Property Week reports.

Commenting on the situation, managing director of Rushbond Jonathan Maud said: "We remain confident in the City of Leeds and seek to substantially grow our investment portfolio over the forthcoming years and are presently working on a number of exciting opportunities."

In a separate report from the same magazine, it has been reported that retail is also holding up well in the West End of London.

Property firm Shaftesbury said its retail lettings in the area had brought in £2 million per year of new business in the past three months.