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Despite a somewhat slow beginning to 2018, investment into London has boomed in recent months, rising 85% to £5.3 billion in Q2 – a 67% increase on the same period last year and bringing the 2018 half-year total to £8.1 billion.
Thirteen significant deals of over £100 million were completed during the quarter, including the large £1 billion sale of 5 Broadgate to Hong Kong investor CK Asset Holdings – a great example of the considerable amount of overseas investments coming into London, which made up 82% of the sales completed over the quarter. Asian investors in particular have been extremely active in the last few months, acquiring a total of £2.8 billion worth of property in the capital.
Head of London Investment Properties at CBRE, James Beckham, explains: “The low level of investment seen in the first quarter of this year has proved to be an aberration. International investors remain hungry for real estate in London and we have seen a diversification in the origin of this capital, albeit the majority is still coming from Asia. The Asian markets are relatively small compared to the major gateway cities around the world and so we continue to see private investors looking to diversify their wealth into a range of global markets.”
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.