UK commercial property capital values fell by a further 8.7% in the first quarter of 2009. However, the pace of decline has slowed noticeably since the record 14.3% fall recorded in Q4 2008, according to the IPD UK Quarterly Property Index published this week. Income return also edged up to 1.7%, from 1.5% last quarter, largely as a product of the continuing falls in asset values.
Pan-European investor Bowery and real estate investor Alba join forces to acquire their first last-mile logistics asset in the Netherlands.
