The City of London remains a hotbed for business and financial services. Although there is some uncertainty due to the political situation, there are plenty of positives. Being based in the centre of London is great for businesses. This fact is illuminated with the news that 2017 saw £12.6billion invested into commercial property. Consequently, this is a new record. Buyers from around the world purchased assets in the area.
When it comes to property investment City of London has plenty to offer in terms of valuable commercial spaces. The demand has been the highest for trophy assets, including iconic buildings in renowned locations. On top of this there has also been a rise in leasing commitments.
One of the biggest redevelopment projects in the area is Broadgate on Liverpool Street. The work has been ongoing since 2016 but a number of tenants have already signed up to take on space. The most recent of these was revealed earlier this month. The European arm of Japanese banking giant Sumitomo Mitsui will take three storeys of the seven floor building. This will amount to 161,000 square feet of space. The lease agreement is for 20 years.
The deal is one of the largest in recent months and the fourth to go over 100,000 square feet. The other deals were Lloyds Banking Group (124,000 sq ft), a co-working provider (117,700 sq ft) and Hyperion Services (115,800 sq ft).
As you can see there is still a huge amount of demand for office space in the City of London. This comes even with fears that political uncertainty would cause businesses to move their operations away from the area and the UK as a whole.
Finefair is a helpful team that can work with clients considering the chances for property investment City of London has to offer. We are a proactive team, searching the market to find properties that suit the needs of our clients. In addition, we offer support and recommendations at every stage.
If you would like to work with us please feel free to get in touch.