Skip to content
Subscriber Only
Business
Pursuits

Central London Property Losing Haven Status as Bears Move In

  • Shares of some landlords declined more than 24% since peak
  • Sovereign wealth funds are selling assets as oil slumps
Luxury Residential Properties In London As Bank Of England About To End The Era Of Record-low Borrowing Costs
Photographer: Simon Dawson/Bloomberg
By

Updated on

Landlords owning some of central London’s most valuable real estate, a haven for investors for the past five years as they sought to combat record-low interest rates, have fallen into the grip of the bears.

Land Securities Plc, Workspace Group Plc and British Land Plc, declined more than 24 percent in London trading since Oct. 28, when the FTSE 350 Real Estate Investment Trust Index reached its highest level since January 2008. That compares with an almost 14 percent decline for the broader FTSE 350 Index.