Commercial Property News Archive for 24-Jan-2008

Great Portland takes 6.5pc hit but stands firm (Daily Telegraph)

Great Portland Estates, the West End developer, has seen 6.5pc knocked off its net asset value by the downturn in commercial property prices.

Commercial property managers in race to prevent investor panic (Independent)

Britain's largest commercial property managers rushed to prevent a run on their funds yesterday, as investors began to panic following Scottish Equitable's decision to prevent some investors from withdrawing their savings for as long as 12 months.

Great Portland Estates joins slide in asset value (FT.com via Yahoo! News)

Great Portland Estates has become the latest commercial property company to be hit by the downturn in the market, suffering a 6.5 per cent fall in net asset value during the last quarter.

David Prosser's Outlook: Fear stalks commercial property funds (Independent)

One by one, the giant commercial property funds are falling prey to market contagion. Yesterday's announcement by Scottish Equitable that investors won't be able to take their money out of its �2bn property fund for up to a year was just the latest attempt by an investment manager to cope with rising panic in the sector.

Number of tax protests filed by commercial property owners skyrockets in wake of reassessments (The Kansas City Star)

It's not exactly the Boston Tea Party, but many Jackson County business owners are rebelling against huge increases in their property tax bills this year.