LAP cheered by fashion retail deals

19th May 2009 11:08

Retail property specialist London & Associated Properties (LAP) said it saw relatively strong trading in the year to date, with lettings to fashion groups Jack Wills and Urban Outfitters contributing to revenues.The firm said the uncertain performance of properties may last until next year, but that the low rate of tenant default and the significant lettings achieved demonstrates there is still a reasonable market for shops in the right locations."I feel that while 2009 may not witness any meaningful recovery in property values or performance, we will be able to ride out this period by concentrating on cash collection and the close management of our existing portfolio," said chairman Michael Heller.