OVERSEAS investors have sent UK office transaction volumes soaring to their highest levels in five years, figures published yesterday show.
The second quarter of 2012 saw the highest volume of office transactions since the third quarter of 2007 – led by a surge of foreign investors investing in London offices, Aberdeen Asset Management figures reveal.
Between 80 and 90 per cent of UK office transactions now have an overseas buyer compared to only 50 per cent five years ago, with deals in London representing over 80 per cent of all UK transactions compared to two-thirds in 2007.
Aberdeen’s Graham Porter said: “Overseas investors are propping up the buy side for central London offices, which they see as a safe haven.”
IPD’s Greg Mansell added: “City offices present a conundrum in the current climate, with international buyers flocking to them as safe haven assets, while their own historic volatility shows them to be anything but.”