The UK commercial property market is set to be coming on leaps and bounds after the Paragon Group reported increased uptake in buy to let demand.

The latest announcement at the company was that they made £39.5 million in pre-tax profits during the six months leading up to March 31st 2011. That is a 34.8 per cent increase on the previous period.

The company said the results were down to the excellent performance of its buy to let portfolio.

Director of mortgages at the company John Heron said Paragon had enjoyed good news in the investment property sector in the past six months.

He said: "The performance of the buy-to-let portfolio continues to be exemplary, with strong customer retention and low arrears levels combining to deliver excellent revenues and profits for the period."