The commercial property market in London will continue to attract foreign investors, one expert has claimed.
The revival seen by the London commercial property market is being driven by foreign investment, it has been claimed.
Sterling may be regaining strength, but favourable exchange rates still make UK assets an attractive proposition for
property investment firms abroad, Simon Taylor, head of the commercial department at estate agency LDG, told propertytalklive.co.uk.
A prime example of this was the sale of Land Securities' Park House
commercial development to a Qatar-based investor for £250 million.
Foreign property investment firms want to buy tangible assets and long leases with upward only reviews make London property particularly tempting, Mr Taylor told the website.
"We anticipate a continued strong market in the West End, particularly now the emergency Budget has been announced and there is more clarity on the detail of the governments' plans," he concluded.
These comments echo those of Andrew Teacher, media manager at the British Property Federation, who earlier this month claimed that trophy prime London assets are seen as a particular prize for wealthy businessmen from abroad.
Posted by Tess Nelson.
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