Adviser: Britain's commercial rents set to fall through 2012

05/18/2009 | Bloomberg

The U.K.'s recession will force British landlords to keep reducing commercial rents until 2012, says the global research chief for Deutsche Bank's real estate unit. "It's all pretty grim on the economic side," said Peter Hobbs. "This will lead to three years of rental declines, starting from this year." He expects London office rents to fall to half their current level by the time the recession has run its course.

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