Retail Property Boss Warns Against Panic Selling in Commercial Real Estate Stocks Retail Property Boss Warns Against Panic Selling in Commercial Real Estate Stocks

Retail Property Boss Warns Against Panic Selling in Commercial Real Estate Stocks

As the sell-off in commercial real estate stocks and housebuilders continues, a retail property boss has defended the commercial property industry.

Speaking to City A.M., Edward Cooke, chief executive of the British Council of Shopping Centres (BCSC) said: “People are panicking and thinking of their short-term interest.

“But the fundamentals in the occupier market are strong. I think it would be a brave man who would say there won’t be volatility – but I’m confident companies will adjust to market conditions.

“We have a fully functioning market and well-run regulatory system. Those two fundamentals aren’t different.”

Mark Bourgeois, BCSC president and executive director of Capital & Regional, said US, Japanese and European funds are still looking to invest in the UK after the Brexit vote.

Bourgeois said: “I’ve spoken to lots of retailers, and those who have expansion plans are not changing those plans. Consumer confidence needs to stay the same – but I don’t see occupation levels going backwards.”

The commercial real estate sector faced a tough day of trading yesterday after Liberum analysts issued a note saying the risks in the industry had increased.

The sell-off has continued again this morning; at time of writing, Land Securities’ share price was down 4.81 per cent and British Land’s share price had fallen 4.16 per cent.

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