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The presence of overseas investors is already noticeable 20 days into the New Year. 2014 reached record levels in terms of international investment into London’s prime office market, with Middle Eastern, Asian, American and European investors all acting as key players on nearly 75% of high end transactions in the London market. 2015 has already seen a number of transactions from overseas investors, most notably last week’s Qatari backed purchase of One Mabledon Place in Kings Cross, suggesting overseas investment is unlikely to slow down over the next year or so.
Eugene O’Sullivan, Director at Morgan Pryce notes how international investment is looking towards outer-London areas,
“Historically, overseas investment has been focused on prime London areas, areas associated globally with ‘trophy status’, like Mayfair, St. James’ and other West End venues, indeed even City locations were targeted. However, whilst this is still true, overseas investors are becoming more willing to look further west, or south, when considering investment opportunities. This really highlights the strength of the London market at the moment.”
The acquisition of One Chapel Place, located just off of Oxford Street, by a Private Asian investor and the purchase of Landmark House and Thames Tower, located in Hammersmith, by a Malaysian fund are testament to the diversity of investment locations and the strength of the London market.
This news was brought to you by Morgan Pryce, a specialist tenant acquisition agent with offices in Oxford Circus and the City. Morgan Pryce specialises in search, negotiation and project management and works exclusively for tenants.