Property investor spend on central London offices on the up

Investor confidence in central London offices has been given a boost since Boris Johnson’s election victory, with over £500 million of deals agreed last month, new research showed on Monday.

Property agent Avison Young said £293 million of City purchases were done in January, and £218 million in the West End. That was up from £162 million and £95 million respectively a year ago.

Among the sales was Royal London Asset Management paying close to £68 million for a block let to multiple companies close to Moorgate station.

Jamie Olley in Avison Young’s central London team said: “Investor sentiment remains strong, evidenced by significant overseas and domestic capital targeting London.”

He added: "Occupational demand is still very strong.” That is attractive to a number of buyers.

January’s growth follows improved confidence since more political certainty was achieved. But, the research said numbers are still relatively subdued because of less stock on the market than in previous years.