Growth in London
Derwent, the office investment company, which specialises in West End properties, reports that the Eurozone crisis enveloping Europe has driven investment into London.
The figures show that London Office transactions totaled £7.2 billion in the first half of the year - which is the most over a six-month period since the second half of 2007.
Speaking on the record John Burns, Derwent’s chief executive said: “London has become increasingly polarised from the rest of the country. Overseas investors very much want to put money here.”
The company is exploiting the bullish market by reinforcing its development activity. Two schemes were started at the beginning of the year and total space under development has now reached 550.000 square feet. New projects planned for next year will add 400,000 sq ft of additional space.