London looks on course for another record year in terms of investment in its commercial property sector, it was reported last month.
A continuing flood of international buyers appear to be driving activity in the capital according to the latest analysis.
Projections by estate agents Savills suggest that the value of commercial transactions in Central London will exceed £20billion by the close of the year.
If the figure for 2017 tops £21.6billion it will have beaten the previous record, recorded three years ago.
Expectations are that this is certainly possible; deals done in the first three quarters of the year add up to £14.2billion, while the average turnover for the final quarter in the past five years stands at £6.5billion.
Stephen Down from Savills said: “UK real estate, particularly prime assets with strong income streams in the capital, continues to appeal to a broad spectrum of international investors, while outside this sphere of interest there is also demand from a broad professional investor base so long as properties are priced correctly.”
The latest update suggests that the property market has shown real resilience following the EU referendum result almost 18 months ago.
Although those who have struck a more cautious note point to the fact that two mega-deals – the sale of the Cheesegrater and Walkie-Talkie skyscrapers – will account for a significant share of this year’s figure.
If you need guidance with any aspect of a commercial property transaction, please contact the head of the Property team Michael Stock or visit our website.