International firms help speed up recovery of UK office space market
Following on from London’s successful second quarter, it’s emerged that part of the city and the UK’s road to recovery is thanks to a surge in international investment. According to Cushman & Wakefield analysis, over 60% of all West End transactions have been completed by overseas funds or private organisations.
An article by www.propertywire.com states: “The central London property investment market is likely to be leading the recovery in Europe.” The article goes on to reference comments by Clive Bull, Head of central London investment and a partner in Cushman & Wakefield’s London Group:
“Interest has been fuelled by a perception that the London market represents relatively good value, the continuing weakness of the pound and the lack of competition from the traditional UK/Irish debt buyers.”