During the year Compco spent over £43 million ($59.8 million) buying five investment properties, all in Central London, which now represents 79% of Compco's total property portfolio. At the same time several smaller properties were sold, raising £20 million ($27.8 million).
And since the year end Compco has bought more properties in the EC1, SW10 and W1 districts. The most significant purchase was the Berkeley Group's 15% shareholding in Chelsea Harbour, taking Compco's overall stake to 40%.
Chairman Kenneth Rubens said: 'The actual level of demand in the Central London office sector remains satisfactory, and there is still evidence of rental growth, albeit at lower levels than in the preceding two years. We continue to believe that London offers the most vibrant economy of any major UK city and the depth of the property market in London gives it greater liquidity.'
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