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- March 1, 2016: Vol. 10, Number 03

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UK property

by Richard Fleming

It’s always nice to have your small part in the commercial real estate world confirmed. The British Property Federation, the trade association for the United Kingdom’s property sector, recently released a report, commissioned from Toscafund Asset Management LLP and titled Britain’s Property CREdentials, that highlights the role played in the UK economy by commercial real estate, defined as any property whose main function is to generate income for its owner.

Commercial real estate, the report states, represents assets valued at £1,662 billion (€2,204 billion) in total, or more than a fifth of total net UK wealth. Other stark reminders of the role of commercial real estate are that the sector contributed £94.2 billion (€124.9 billion) through rental payments to UK GDP in 2014 (representing about 5.4 percent of GDP), that an average of 6.8 percent of the UK labour force (2.1 million people) was employed on construction work between 2002 and 2014, and that more than

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