Noble's Industrial Sector Overview: January 2010
"Despite consistently outperforming more cyclical retail and office asset classes through various property cycles, industrial property remains unloved and underweight for many property investors. Structural oversupply in the UK will delay a recovery in rents into 2011 but capital growth and inward yield shift is already here for prime assets. We initiate on SEGRO with a Positive recommendation and Hansteen at Neutral."
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