UK commercial property shows signs of recovery with attractive yields and discounts. Focus on retail, multi-let industrial, and alternative assets. Schroders forecasts 8-10% annual returns. Key players: Land Stocks, British Land.
eXp expands to Turkey, The Agency opens in Vancouver. Plus, moves by Compass, Coldwell Banker, Douglas Elliman, Engel & Völkers, Century 21 & FirstTeam mark realty market growth.
But its analyst, Robin Savage, notes that the valuation “includes substantial net cash” (£35 million at the end of 2023) and the recent first-half results “provide evidence supporting our view that LSL’s operating performance will materially improve in 2024 and 2025”.
