West End property values start to fall as higher UK rates bite
Property in Covent Garden and Soho is falling in value as higher interest rates snuff out the tentative recovery in London’s West End.
The valuation of Covent Garden fell 2 per cent to £1.8bn in the three months to the end of September, according to Capco, which owns the estate.
Shaftesbury, owner of the neighbouring estate which includes Carnaby Street and Chinatown, said its portfolio valuation had fallen 3.6 per cent to £3.2bn in the six months to the end of September.
This story originally appeared on: Financial Times - Author:George Hammond
