The start of this year saw record activity in the London real estate market, as investors shrugged off economic uncertainty.
There were a total of £4.9bn worth of transactions over the course of the first quarter, the most ever in the January to March period and the highest quarterly total since the end of 2014, according to CBRE.
After slumping to five-year lows of £3.2bn in the third quarter of 2016, a rapid return to the market shows investors who paused activity following the vote to leave the European Union have not been deterred in the longer term.
CBRE said the figures provided “further evidence of the resilience of the London office investment market”. There were 13 deals of £100m or larger in the quarter compared with 11 in the previous three months.
Overseas investors accounted for 80pc of all transactions by volume, up from 74pc in the previous quarter.
Nine of the £100m-plus transactions were completed by foreign buyers. The largest deal was the sale of the Leadenhall Building, also known as the Cheesegrater, bought for £1.15bn.
Source: “The Telegraph”