Central London’s office investment market has had a stellar year with total turnover for 2016 expected to reach more than £16.8B. That's 20% ahead of the long-term average and only 15% down on 2015, one of the strongest years on record, according to research compiled by Savills. This includes £3.9B under offer that's expected to either exchange or complete before the end of the year.

Overseas investors have been particularly active, partly due to the currency shift following the EU referendum. Asian buyers are driving the market, deploying £4.5B into the Central London real estate market through the end of November, according to Savills. That's one-third of total turnover for 2016 – the greatest market share on record. In the City market, Asian investors have accounted for a noteworthy 85% of activity since the EU referendum, with a number of new entrants including Asian Growth Properties, which acquired 20 Moorgate for £155M, and Kingboard Chemical Holdings which, advised by Savills, purchased Moor Place, 1 Fore Street for £271M.

Savills said £8.1B of the total turnover for 2016 is expected to transact in the West End market, whilst £8.7B will be invested in the City. Key deals that have taken place include: City Point, 1 Ropemaker Place, EC2 purchased by Brookfield for £560M; ENPAM buying a 50% stake in Principle Place, EC2A for £382M; and China Life and Brookfield, advised by Savills, buying Aldgate Tower for £346M.