Quarterly investment volumes reach £4.13 billion in central London, says Cushman & Wakefield.
The first quarter of 2014 set a new record for commercial property investment in central London, according to recent research.
In a report that could provide welcome reading for business mortgage holders, real estate services firm Cushman & Wakefield said total investment volumes reached £4.13 billion in the period, the highest amount ever recorded in Q1.
Another unprecedented high was achieved in the City and Docklands, where 32 transactions were completed worth £3.31 billion.
Cushman & Wakefield pointed out that total volumes were heavily reliant on a small number of very large deals, such as the acquisition of More London by Kuwaiti sovereign wealth fund St Martins for £1.7 billion.
Foreign investors continued to account for the majority of purchasing activity, with more than three-quarters (77 per cent) of Q1 investment in the City and Docklands coming from overseas.
Bill Tyser, partner in Cushman & Wakefield's City investment team, said: "From a global perspective, City of London prime yield profile remains attractive and there continues to be a considerable weight of money both domestic and international facing the market."
In another recent trend, the West End achieved its highest annual turnover of £8.2 billion in 2013.
25th April 2014