INDUSTRY NEWS

Billions worth of commercial property up for sale in City of London

Over £3 billion worth of London commercial property is up for sale in the City, a report has found. A period of first stabilisation and then sharp growth has prompted many companies to put their properties on the market in the hope of taking advantage of comparatively healthy prices after the slump in 2007 and 2008.

Many of the developments on the market are asking nine-figure sums, with no less than a dozen expected to realise £100 million or more.

There is no single reason for the flurry of new activity. Some investors are simply hoping to sell for a good price to realise some of the recent gains. However, in other cases there may be an element of more immediate opportunism. Should the Euro decrease in value, international investors will be less willing to purchase in the UK as the exchange rate becomes less favourable.