Value of Britain’s property deals rises by two-thirds | 1 August 2012
During the three months leading up to July, the average value of property deals undertake in Britain increases by two-thirds, Ft.com reports.
That’s according to figures released by Grant Thornton, which found that London in particular is looking healthy; partly due to interest in its commercial properties from foreign investors.
The report confirmed that these investors have ‘continued a spending spree in the capital, in spite of the worsening economic situation in the Eurozone’. In fact, throughout 2011, over half of the Square Mile’s office space was claimed by overseas investors.
A spokeswoman for Grant Thornton, Clare Hartnell (who is the global head of property and construction), claimed that: “These figures show that when the assets are right the funding can be found – either for particularly high-quality assets or ones where the buyers can see opportunities to improve returns.”
She went on to say that investors from telecoms, media and technology companies seem particularly interested in the office space London has to offer. Hartnell confirmed: “Recent interest suggests there is more activity to come for technology property assets.”
Grant Thornton’s data – also picked up by news168.co.uk – went on to reveal that despite the total value of property transactions going up, the number of actual deals signed off during the same period actually dropped a little.
Written by Deborah Bates on behalf of Qube Global Software
While posted by Qube Global Software all views expressed are not necessarily those of the company. All facts are verified where possible directly by the author.
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