DTZ's capital gains give hope to recovery in property sector

Property advisory firm DTZ boosted recovery hopes in the sector yesterday after seeing better levels of activity in its key markets of London and Paris.

The group, which operates in 148 cities and employs 10,000 people, added that its businesses in Asia Pacific continued to see good levels of business, particularly in China where it has been involved in a number of major deals.

In the UK and Ireland, DTZ noted increased activity in the investment and occupier markets, led by central London.

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This includes advising Macquarie Bank on the acquisition of 217,000 sq ft of space at British Land's Ropemaker Place.

The company's retail team has also been involved in a number of high profile deals across the UK in recent months, including advising Hammerson on its 297m joint venture purchase of the Silverburn Shopping Centre in Glasgow.