London commercial property investment reaches new high in Q1

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.


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