Investment transactions in London Midtown’s office market hit a record level in the third quarter of this year, boosted by overseas investor activity, according to data from Midtown-specialist agent Farebrother.
Turnover in the sub-market reached £2.6bn in Q3, 116% up on the same quarter last year, with overseas money accounting for 91% of the total.
The result, which was almost four times higher than the 10-year average of £700m, was fuelled by three main deals: the £1.2bn acquisition of Goldman Sachs’ HQ by Korea’s National Pension Service; Pontegadea’s £550m purchase of The Adelphi Building; and Norges’ acquisition of Amazon hub Sixty London for £320m.
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