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London sales hit £14bn

Largest transaction: Bank of America Merrill Lynch Financial Centre
Largest transaction: Bank of America Merrill Lynch Financial Centre

Central London commercial deals completed in the year to date have reached £14bn, according to DTZ.

The transactions, which exclude hotel sales, reached £1.2bn in October.

Norges Bank’s purchase of Bank of America Merrill Lynch’s headquarters at 2 King Edward Street, EC1, from GIC Real Estate for £583m was the largest single transaction of the year.

Foreign investment was responsible for 64% of the total for the year to date.

Property currently under offer totals £1.6bn.

Sophy Moffat, a researcher in DTZ’s central London team, said: “A return of occupier confidence and signs of real rental growth returning to the central London occupational market are continuing to attract inward investment from domestic and international investors.”

alex.horne@estatesgazette.com

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