Commercial real estate transactions in London for 2010 totalled GBP 9.9 billion, new statistics have revealed. The figure represents an increase of around a third compared to the previous year, Cushman and Wakefield has revealed.
The consultancy noted that overseas investors continued to dominate the market, accounting for around 66 per cent of all deals over the year as a whole and for in excess of 70 per cent of transactions conducted in the City.
However, despite the increase offering a welcome boost to the UK economy, the amount of investment still falls a long way short of that achieved during the property boom of a few years ago.
Clive Bull, head of central London investment at Cushman and Wakefield, said: "Demand remains strong from both domestic and overseas investors as London continues to be perceived as a relatively safe haven for investment."
Looking forward, Central London commercial property remains an attractive destination for investors. Strong rental growth predictions, its position as a leading financial hub and the resilience of prime assets mean that Cushman and Wakefield forecast growth to continue.