News

Property Sector Shares Rocket on Reit News - Metro March 06

Shares in Britain's top property companies rocketed more than 12 per cent as Chancellor Gordon Brown made it easier for them to convert to real estate investment trusts (Reits).

Land securities, Britain's largest listed property company, was the biggest riser in the FTSE 100, up almost 11.8 per cent.

The Government wants to give greater access to investors, but there were fears its proposed reit structure would be unworkable.

Yesterday the property industry welcomed the results of months of consultation