Thank you for sharing!

Your article was successfully shared with the contacts you provided.

LONDON-Slough Estates has warned the property market will be challenging in the short-term but management is upbeat about the longterm prospects for the sector.

The company reported interim pre-tax profits up 8.5% to £76.2 million ($117.5 million) as core property investment income rose 2.7% to £68.5 million ($105.6 million).

An interim property valuation showed the group’s portfolio increased by 0.2% to £3.6 billion ($5.5 billion) with diluted net asset value per share up 2% to 522 pence per share.

Slough reported demand by investors for UK commercial property remains strong as it is seen as a safe bet in troubled times, but occupier demand is less certain. Overall, the group’s UK occupancy has fallen slightly to 91.2%.

Demand for industrial space remains satisfactory but demand for offices in London and the South East is subdued. This has led to some downward pressure on rents.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.