Japanese investors may reduce U.K. property holdings, which include stakes in the largest real- estate investment trusts, as they focus on rebuilding in their home country following its strongest earthquake on record.
British Land Co. , the U.K. company that will build the London tower known as the Cheesegrater, said second-quarter profit rose 3.7 percent after its shopping centers and office properties appreciated in value.
Hammerson Plc plans to add to its retail assets in France and may buy a shopping center near the Eiffel Tower as the company anticipates a pickup in consumer spending, Chief Executive Officer David Atkins said.
Mayfair and St. James’s just aren’t big enough for all the companies that want a piece of London’s most expensive neighborhoods. Many are now settling for less prestigious city-center addresses, creating new hot spots in the office-property market.