Commercial property investment 'up 60% at the end of 2009'

Levels of investment in retail commercial property across Europe rose by almost 60 per cent in the fourth quarter of 2009, new research has revealed.

The study by Jones Lang LaSalle found that total transaction volumes totalled €4.5 billion (£3.9 billion) from 100 deals, which was significantly higher than the figure of €2.9 billion recorded in the previous three-month period.

Volumes for the full year reached €12.3 billion, which represents a 32 per cent fall from 12 months earlier.

Looking ahead, Jeremy Eddy, head of European retail capital markets at Jones Lang LaSalle, said "a strong start" is expected in 2010.

He added that an "increasing trend of equity partnering with expertise in joint ventures and property clubs" is being seen across Europe at present.

Last month, research by Jones Lang LaSalle revealed that all-property returns in the UK rose by ten per cent during the final quarter of 2009, while a record increase in capital values was also seen over the period.