LONDON - Britain's commercial property market is returning to life after its post-pandemic freeze, albeit largely at much lower prices.
Real estate investor Nuveen has put a 21-storey City of London tower it completed in 2019, informally known as the"Can of Ham" due to its rounded shape, up for sale for 322 million pounds , below about 400 million pounds it had sought in 2022, a person familiar with the matter said. New office buildings are seeing robust demand, with investor M&G's new office towers at 40 Leadenhall in the City of London more than 80% let.
"Offices to some extent has been a bit of a dirty word," said Nick Montgomery, global head of real estate at Schroders."From the position we're in, it's more of an opportunity than a risk... The pendulum always tends to swing too far."Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
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