London & Stamford Property will carry on to look out deals with total returns and striking equity for its 1 billion pounds container for investments, but stays cautious of asset prices.
Chief Executive Patrick Vaughan said, “London & Stamford keep focussing on recognizing the opportunities in investment that offer us with eye-catching cash on the equity returns in an interim management statement”.
The UK property investor, graduated to London Stock Exchange’s main board and has investments in office, retail, residential and industrial properties — said comparatively few main assets are approaching to market.
Vaughan said, “We judge that the market conditions will persist to produce opportunities for property investments with striking equity yields and total returns,”
He said, “We will persist to be watchful on the pricing of such assets, given the suspicions in the UK economy and the nonexistence of comprehensible occupier demand”.
IPD data showed this week, “The value of UK commercial property rose 14.5 % in 2010, from 2.2% increase in 2009, as capital growth and annual income return both hit constructive territory for the first time in last 3 years”.
London & Stamford also reported that that Christmas trading was “very positive” for its retail portfolio and considerable letting activity at its Meadow hall Shopping Centre in Sheffield .
Shares in London & Stamford, which is supported by Middle Eastern money, were down 0.4 % at 129.2 pence by 0957 GMT, in line with a 0.4 % fall in the broader index of property investment in UK.
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