New research shows foreign investors snapped up the majority of London office space last year.
Overseas maiden investments accounted for a third of the total spend in the London office market in the last 12 months.
Foreign first-time buyers and investors are dominating the London office space market according to new research from the property group Knight Frank.
The figures show that foreign investors and cash-rich first time investors are fighting for a share of the market as they look to acquire stable assets in the current Eurozone crisis. According to Knight Frank, overseas investors making their debut investment in the London office space market accounted for about a third of the £9.1 billion spent in the market last year, while foreign investors accounted for about 60% of the overall investment into the market. (more…)
A lack of supply in office space in the capital has pushed the value of available spaces up by 43% according to Knight Frank. They are expecting office rental costs to increase by 19% due to the shortage.