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.
