Despite Brexit, London retains top global rank for commercial real estate investment

Knight Frank reported that office investments in London totaled £16.2 billion last year as the UK prepared to exit the European Union

TRD NATIONAL /
Mar.March 02, 2019 01:00 PM

(Credit: Pixabay)

London last year remained the top city in the world for investment in commercial real estate, despite concerns about Brexit, according to Frank Knight.

As the United Kingdom prepared to exit the European Union, London last year attracted £16.2 billion ($21 billion) of investment in commercial office buildings.

That exceeded 2018 commercial office investments totaling £14.3 billion ($18.5 billion) in Manhattan, £12.1 billion ($15.6 billion) in Paris and £8.4 billion ($10.8 billion) in Hong Kong.

Frank Knight also reported that Greater China continued last year as the biggest source of investment in Central London office buildings.

Investors in Greater China last year spent £3.48 billion ($4.5 billion) on office space in Central London, down 51 percent from £7.12 billion ($9.2 billion) in 2017.

South Korean investment in Central London office space totaled £2.56 billion ($3.3 billion) last year, an eight-fold increase from £300 million ($388 million).

William Beardmore-Gray, Knight Frank’s head of Central London, said London’s “resilience and reputation as a safe haven for investment, despite Brexit, is remarkable.”

Investors this year plan to invest £40 billion ($51.8 billion) in commercial real estate around the world, according to Knight Frank. [World Property Journal]Mike Seemuth


Related Articles

arrow_forward_ios
State report finds open gas valve fueled building explosion at Plantation shopping center

State report finds open gas valve fueled building explosion at Plantation shopping center

Bayside Marketplace is planning another high-rise entertainment venue with a view

Bayside Marketplace is planning another high-rise entertainment venue with a view

Construction of downtown Hollywood high-rise may start soon

Construction of downtown Hollywood high-rise may start soon

South Florida firm, partner acquire Tampa office building for $29.4M

South Florida firm, partner acquire Tampa office building for $29.4M

Developer borrows $105M, breaks ground for mixed-use Flagler Village project

Developer borrows $105M, breaks ground for mixed-use Flagler Village project

Moishe Mana plans mixed-use project with logistics theme next to airport in Panama

Moishe Mana plans mixed-use project with logistics theme next to airport in Panama

Power restored after blackout envelopes West Side of Manhattan

Power restored after blackout envelopes West Side of Manhattan

Virgin Trains may announce 3 new train station sites in South Florida by year-end

Virgin Trains may announce 3 new train station sites in South Florida by year-end

arrow_forward_ios