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The central London commercial property market has seen a turbulent few months, with the General Election, Brexit uncertainty, and general geopolitical issues causing a certain amount of uncertainty. However, recent data has shown that there has been a steady flow of investment in the first half of 2017, with over £11.5 billion coming in to the capital. In fact, July alone saw deals equating to £2.35 billion – a 24% increase on the same month in 2016.
The sale of landmark buildings such as the Walkie Talkie, acquired by investors in Hong Kong for £1.28 billion, has driven the total invested amount upwards, with overseas investors dominating the market. Asian investors have been involved in 63% of City deals this year, with European investors making up 17% and UK investors 11%, indicating that the weakening of the pound has made the market an attractive proposition for plenty of buyers.
Eugene O’Sullivan, Managing Director at tenant acquisition specialists Morgan Pryce, explains; “Opportunities for foreign investors are incredibly strong at the moment, because the weakening of the pound has allowed for a natural discount on many buildings, and landlords are able to cash in on assets in these uncertain times.”
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.