Rental prices for office space in London's main financial district will fall at least 40 percent from their peak before recovering, the London-based Times newspaper reported, citing property investor Chris Bartram.
Developers such as Land Securities Group Plc will scale back or delay some large planned buildings and move tenants to newer properties, and the current decline will be shorter than the four-year slide that began in 1991, the Times quoted Bartram as saying in an interview.
There are international investors with ``a lot of cash'' who are looking to invest in U.K. commercial property, he told the Times. Bartram, former chief executive of Dutch real estate company Haslemere NV, has set up a 300 million-pound ($595 million) investment fund, partially bankrolled by the sovereign wealth fund of Singapore, the Times said.
