Commercial property sales in the City of London remain resilient, with continued investment from overseas buyers.
Research conducted last month confirmed that the capital’s business and financial centre had seen significant capital inflows in the six months following the EU referendum.
After an initial “pause for breath” after the vote, the sector built momentum in the second half of last year and around £2.5billion worth of transactions have taken place in the City during this time.
There continues to be particular interest from Greater China, who have accounted for almost a third of acquisitions over this timeframe.
Chris Picardo, Partner in Carter Lemon Camerons’ Commercial Property department, said: “We are seeing constant appetite for investment in, and lending against, London property from overseas, and not just from China.”
Nick Braybrook, from the estate agents Knight Frank, said: “Riding on last year’s strong momentum, Chinese outbound capital continues to play an instrumental part in the global real estate markets.
“Despite the slowdown in investment activity in the City just after the referendum, the subsequent surge of overseas buyers means there is now a distinct shortage of available investments as the market needs more sellers.”
Estate agents expect that the City will continue to remain the focus of property transactions in 2017, with a slump in the value of Sterling likely to fuel further interest among international buyers.
Carter Lemon Camerons has in-depth knowledge of property law. Whatever the size of the deal we advise on every stage of your transaction to meet your goals. For more information, please contact Chris Picardo (ChrisPicardo@cartercamerons.com) or visit our website.