Ronson swoops on 430m pounds sterling DEGI sites

Article Abstract:

Heron International, owned by Gerald Ronson, has made offers on 10 buildings in the City and West End areas of London, England, owned by Deutsche Gesellschaft fur Immobilienfonds. It is likely that the buildings, which total 77,900 sq mt, will be sold for 430 million pounds sterling. The price reflects a net initial yield of 7.5%. Investment experts believe that German property investors will now turn to Spain and France, regarding these countries as offering better growth potential than the UK.

Management, Planning, Real estate industry, Heron International PLC, Deutsche Gesellschaft fur Immobilienfonds

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To be or not to be

Article Abstract:

The property markets in outer east London boroughs such as Woodford, Redbridge and Ilford have tended to be dominated by industrial developments. The recession has left a large amount of vacant industrial and warehousing space, and few new developments are planned. However, some observers believe that their is now pent-up demand for high quality industrial buildings.

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