Average lot size of deals in the City of London hits almost £110m in May

Average lot size of deals in the City of London hits almost £110m in May

Todays other news
A popular northern city has been named the UK property...
New data from Hamptons shows a massive rise in service...
The data has been produced by high end estate agency...
Even the likes of Croydon is now seeing prime-priced property...
The call has come from the British Property Federation...


The average lot size for commercial property investments in the City of London reached almost £110m last month, up 52% on May 2016 levels, fresh data from Savills shows.

Turnover reached £665m across six deals, bringing the total for the year so far to £4.1bn across 53 deals, up 7% year-on-year, which equates to an average lot size for commercial property investments in the City of London of £109.2m in May.

Savills estimates that there are currently 24 deals under offer in the City totalling £1.4bn, with a high volume of larger building sales meaning that no fewer than ten of the largest available assets accounted for 80% of total availability last month.

Notable deals include CR Land/Colony North Star acquiring 20 Gresham Street, EC2 for circa £312m at 4% and £1,285 per sq ft.

Meanwhile, Evans Randall sold 33 Old Broad Street, EC2 for £260m at 3.9% and £1,360 per sq ft to Hong Kong listed investors SEA Holdings.

Felix Rabeneck, director in the City investment team at Savills, commented: “The City market continues to be attractive to global investors looking for trophy assets with strong covenants. This is evidenced by the average capital value for transactions over £100m reaching £1,135 per sq ft so far this year; up 19% on this time last year.”

Savills prime City yield remains at 4% with the West End prime yield currently at 3.25%. 

Share this article ...

Join the conversation: Login and have your say

Want to comment on this story? Our focus is on providing a platform for you to share your insights and views and we welcome contributions. All comments are screened using specialist software and may be reviewed by our editorial team before publication. Property Investor Today reserves the right to edit, withhold or delete comments that violate our guidelines, including those that harass, degrade, or intimidate others. Users who post such content may be banned from commenting.
By commenting, you agree to our Commenting Terms of Use.
Recommended for you
Related Articles
Even the likes of Croydon is now seeing prime-priced property...
From the ninth floor upwards the flats are open market...
Will Non Doms quit the UK if the government changes...
London’s £5m-plus market picked up in Q4 2024 after a...
Spain’s draconian new tax is already spooking British investors...
The Budget has forced a revision of forecasts for the...
Prices and sales volumes will grow in 2025 despite the...
Recommended for you
Latest Features
A popular northern city has been named the UK property...
New data from Hamptons shows a massive rise in service...
The data has been produced by high end estate agency...
Sponsored Content
As the property industry shifts towards sustainable practices, Inspired Property...
Are you concerned about rising interest rates and their potential...
In the ever-evolving landscape of property investment, staying ahead of...

Send to a friend

In order to send this article to a friend you must first login. Click on the button below to login or sign up.

No one likes pop-ups ...
But while you're here