High profile purchases of investment properties in the City of London continue

The City of London has a unique property market because it is home to such a high concentration of valuable commercial buildings. There are a number of residential properties in the area but they don’t make the headlines as often as the purchase of an office building. As a result people have a different view towards investment properties in the area.

The Brexit vote last year was expected to have a huge impact on property investment, resulting in a reduction in demand. Sadly this belief proved to be true with many groups of investors reducing their activities. The fall was not as bad as first feared though, particularly driven by continued investment from China and Hong Kong.

There have been a number of high profile purchases in the last few months that show many people still have faith in investment properties in the City of London. One property sold was 20 Moorgate, an office formerly let by the Bank of England. It was the subject of a £154 million purchase from Hong Kong investors Asian Growth Properties.

The former City headquarters of well established law firm Pinsent Masons at 30 Crown Place has also changed hands. The office building is a high profile purchase due to the £200 million price tag and the great location. The new owner is Beijing Capital Development, a State-owned group from China.

The continuation of investment is being driven by economic conditions all around the world. Properties in the City of London are attractive because the prices have fallen in recent months and the pound is weakened on the currency market. If a rise in values occurs in the future investors could enjoy a great return.

At Finefair we know all about the unique nature of the market in the area. As a result we are in a wonderful position to offering advice for clients looking at investment properties in the City of London. We can help with creating an investment plan and weighing up all of the options. If you have any questions or would like a personal, client-focused service please contact us.