Commercial Property - Demand in commercial property sector 'ongoing'

Commercial property demand in the second quarter of the year stayed strong, according to the latest figures released by the Royal Institution of Chartered Surveyors (Rics).

This is despite rising interest rates, the body claimed, with the expectation of higher rents at a six-year high, reports Citywire.

Investors still retain a great deal of interest in the sector, with London being a focal point of the interest, Rics said in its Commercial Property Survey.

Near record highs were recorded in the second quarter and the capital has strong rental growth prospects.

Commercial property spokesman at Rics Ian McRae said that the economy is helping the robust health of the sector.

"Record rental expectations offer investors some comfort that continued growth will support returns. The global economy is supporting the commercial property sector and investor appetite for the asset class has not dried up," he commented.

In related news, a new property development is taking place at Concorde Park in Maidenhead, with the promise of improved office facilities.

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