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According to Morgan Pryce, London’s commercial property agent, non-European investors are becoming more prominent in the commercial real estate market in London.
Investors from outside the capital have accounted for over £50 million of London’s property investment in the last quarter alone. These investments are mainly coming out of North America, the Middle East and Asia. One of the main reasons behind this pattern is believed to be the fact that London remains a stable economy, unlike the majority of the world’s economies at this current moment.
Recent research has showed that offices in Mayfair remain the prime target for overseas investors, together with offices in Knightsbridge. This is believed to be due to the respected location: having an office in Mayfair brings with it a prestigious business address.
“Over the past couple of months, Morgan Pryce, London’s commercial property agent, has been working with many large overseas businesses that are requesting offices in Mayfair,” notes David Perrins of Morgan Pryce. He continues, “There has definitely been an increase in interest when compared with the previous year.”
Morgan Pryce is 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.