Sales of commercial development assets in the City of London rose by 57 per cent in the last quarter, to reach £1.1 billion, it is claimed.
Deals for
commercial development assets in the City of London reached £1.1 billion in the last quarter, according to new research.
This represented a rise of 57 per cent on the last quarter, according to real estate firm Cushman & Wakefield.
The rise was driven by foreign
property investment, with buyers from overseas accounting for around £60 per cent of all the deals in the last three months.
Cushman & Wakefield's head of central London investment Clive Bull said that the area is seen as a relatively safe place for equity to be invested, compared to other asset classes, where returns are still very low.
"Rents look set to climb, fuelled by demand in the retail sector and a lack of quality office supply," he added.
Agency NB Real Estate recently announced that rents in the city of London are being driven up by a dwindling supply of grade A office space.
Posted by Lisa Fear.
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