Real estate

Leeds leads the way for retail property value


Commercial property is becoming more attractive to investors, with retail in Leeds the most underpriced market in the country according to new research. The study by DTZ identifies the most attractive cities for prime commercial property investment. It says the market is benefiting from the plunge in oil prices, which has led to inflation falling to 0.3% and caused the Bank of England to delay raising interest rates. This has pushed government bond yields down to historically low levels, and the current favourable spreads of property yields over bond yields make UK property more attractive for investors. The research found that Leeds retail tops the list for commercial value, with the five most underpriced markets this quarter all outside of London. David Thompson, retail director in DTZ's Leeds office, said: 'The Leeds retail market looks particularly good value at the moment, as yields have not compressed as much as in other, larger, markets. In addition there are some good buying opportunities available now, before the whole retail market benefits from the opening of the Victoria Centre with a new John Lewis store in 2016.'


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