'Encouraging signs' for London commercial property

There are "encouraging" signs emerging in London's commercial property market, an expert has suggested.

Peter Mace, head of central London retail for Cushman & Wakefield, has claimed that despite the downturn, London's West End in particular has performed well in recent months.

He explained that there remains "limited availability" in major areas such as Oxford Street, Regent Street and New Bond Street, thanks particularly to tourists.

Mr Mace added: "There have been a number of new entrants into London in the past six months including The Sting, Damiani Jewellers, Moncluer, Missoini, Anthropologie, Pull and Bear, Kronometry, Goyard, and True Religion to name a few.

"The signs are therefore encouraging for 2010."

Earlier this month, Cushman & Wakefield also revealed that investor sentiment in UK commercial property improved during August, due to signs of widespread yield compression for quality assets.