Foreign funds accounted for a record 70% of total purchases of offices and shops in Central London in the first half of the year, according to figures from DTZ, the property consultancy.

The proportion is the highest recorded since DTZ began compiling figures in 1997. Overseas investors have been attracted by steep falls in capital values and the weak pound. Funds based in Germany, the Irish Republic, the Middle East and the US have headed those queueing up to buy prime assets in London, DTZ said.

The Times