London Landlords Put $2.5B Worth Of Property On The Market Within The Past Month

In the past month London office landlords put properties worth roughly $2.5B on the market as Asian investors continued to pay record prices for properties despite the concerns fueled by Brexit.

A Hong Kong developer recently agreed to pay $1.44B for the Cheesegrater building, also known as the Leadenhall Building, in addition to several other owners looking to sell large stakes in London office buildings, Bloomberg reports. Despite Prime Minister Theresa May's plans to pull the trigger on Brexit come March 29, experts said the market is robust for top assets. Though it is worth noting that experts believe the focus of these deals is largely on income instead of pushing new developments.

Asian investors have proved the most undeterred by Brexit. Investors from China and Hong Kong spent more than $3.6B on London office buildings last year, making them the top investor in the region during a time of major geopolitical uproar.

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's National Newsletters
Related Stories

Tenant Departure Leaves Beleaguered Broad Street Office Over Half-Vacant

Democrats Win Congress As America's Data Center Backlash Hits The Ballot Box

U.S. Hotel RevPAR Surges 7% In Q3, But Expect Easing From Here

Piedmont Realty Exiting Houston Market With Office Dispositions

Stock Sell-Off, Bond Market Jitters Signal Financing Trouble For AI Data Centers

'It's A World Of Winners And Losers': New Edge CEO Plots Future In A Changed Office Reality

Starwood Launches Residential Land JV Targeting $1B In Annual Originations

RealPage Antitrust Case Ends With Nearly $360M In Settlements For Renters

ZOM Living Entity Files For Bankruptcy To Fund Fight To Overturn $323M Judgment

How Colliers Engineering Helped A Struggling Dam Move To The Head Of The Class

Real Estate's Bottom Rung Is Getting Harder To Reach — And Now It Wants AI Skills

Broward Lures Office Tenants Away From Miami-Dade