Central London commercial property investment up 34% year on year | Europe | News
Investment in central London commercial property in the first three months of 2011 increased by around 34% year on year, in an encouraging sign for the capital, according to figures from global property consultant Cushman & Wakefield.
Total transactions across the capital for the first quarter were around £2.19 billion compared to £1.63 billion in the first quarter of 2010. However, this represented a decrease of 24% from the previous quarter, as a shortage of stock hampered performance, it points out. This was the first quarter showing a fall, following six consecutive quarters of increasing investment.
Total transactions for 2010 in central London totaled around £9.9 billion, an increase of a third on that for 2009 which stood at £6.6 billion. The amount of investment still falls a long way short, though, of that achieved during the property boom of a few years ago when it was £19.42 billion in 2007, £14.49 billion in 2006 and £15.25 billion in 2005.
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