Report shows commercial property transactions in London have more than doubled in three years
Commercial property transactions in the UK capital have more than doubled in three years, soaring by a staggering 166 per cent since 2014. This was the finding of new research by the property technology firm Search Acumen, which examined HM Land Registry data from 28 boroughs in Greater London.
The commercial property sector in London continues to be vibrant and strong with around £12.7bn worth of commercial transactions having taken place from January until September 2018.
The research revealed that commercial property sales increasingly account for the property market activity as a whole in London. Throughout 2017 and 2018, 23 per cent of the property sold in the capital were commercial premises, representing a 9.5 per cent increase from 2014.
Speaking of the vibrancy of London’s commercial property sector, Andrew Lloyd, Search Acumen’s Managing Director, said:
“London’s commercial market is booming at £30.3bn in 2017, with transaction numbers more than doubling in just four years. Despite ongoing uncertainty, the signs suggest 2018 is set to be another bumper year, as Brexit fails to dissuade investors across the globe from buying property in our capital.
“Three of London’s top ten largest property transactions last year happened in the City, evidence that it is the home to the UK’s biggest and most complex property deals.” added Lloyd.
Search Acumen’s research follow similar positive findings related to the commercial property sector in London, when commercial property in the City of London neared record highs, with overseas investors continuing to dominate the market.
If you are looking to capitalise on London’s burgeoning commercial sector property, get in touch with Stirling Ackroyd Commercial, providers of complete property solutions, including the buying, selling and letting out of commercial property.