A new report from Jones Lang LaSalle shows that the UK’s commercial property market experienced a boost from overseas investors in 2013.
London’s commercial property sector saw the largest international contribution, hitting a 6-year high of £16 billion in 2013.
Coinciding with this news, information set to be released by property consultancy, Cushman & Wakefield suggests that when compared to the previous year, investment in London’s commercial sector increased by 47%, although it remains under its 2007 peak of £20.54 billion.
Figures released by Cushman & Wakefield suggest that investment in London’s commercial real estate market reached £19.9 billion in 2013, somewhat higher than the figure published by Jones Lang LaSalle.
Considered a ‘safe haven’ by many international investors, London’s central business district was the most popular area for investment. The City and Docklands area accounted for almost 60% of total commercial property transactions according to Cushman & Wakefield.
In 2013, London’s commercial property market saw some major transactions with Kuwaiti buyer, St Martins Property Group purchasing More London for £1.7 billion, plus a German fund purchased the St Botolphs building in the City for £460 million.
The West End also recorded its highest ever annual turnover, with investment equating to £8 billion throughout 2013.
The Jones Lang LaSalle report also shows that office lettings increased to 10.8 milion sq ft in 2013 from the 7.2 million recorded in 2012.
The UK’s commercial property market, especially in London, experienced a flurry of investment in 2013, with insiders expecting that the market will continue to perform well in 2014.
An overall lack of supply and a rising demand for office space in London will help ensure that the market remains competitive.
For further information about how to invest in the UK’s commercial property market, simply contact Experience Invest today on +44 (0)207 321 5858 or email email@example.com.