Sales of central London commercial property last year exceeded £20bn, making 2014 the second most-active year on record.
According to DTZ, 2014 turnover was £20.5bn, of which £7.5bn was generated in the fourth quarter.
The figure is significantly higher than the £14.8bn 10-year annual average, though below 2013’s £22.4bn.
Almost half of overseas investment last year came from North America (22%) and Asia Pacific (21%). Taiwanese and Singaporean buyers were the most active from the Far East, each accounting for 5% of international investment into central London. China and Hong Kong accounted for 3% each.
Ben Cook, head of UK inward investment at DTZ, said: “We continue to see strong demand for core assets in the capital from both institutional and private investors. There have also been new entrants into the market.”
Martin Lay, DTZ’s head of central London investment, added: “London continues to offer good prospects for investors seeking income growth. Given the large amount of capital currently targeting UK commercial real estate, we expect strong investment activity in the first half of 2015.”
