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"Hooray! The five-year commercial property recession has ended.
Britain’s top two property companies this week reported solid results for 12 months to March. Far more important for market confidence are the huge commitments to speculative development given by Rob Noel of Land Securities and Chris Grigg of British Land.
LandSecs promised £384 million towards a £768 million speculative development in Victoria. Grigg said he 'would be disappointed if we don’t spend £500 million by the end of the year' when he announced profits up 1.9% to £279 million on the company’s £10.5 billion of assets. Time to take a punt on the shares in the real estate investment trust sector?"
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