July 26th, 2017.
The Average Commercial Property Investment Lot in The City Now Costs £110m
If you’re looking for a commercial plot for sale in London, you may be in luck, however it is going to cost you. According to recent research from Savills, commercial property investment in the City of London was up 52% year on year in May 2017.
Investments Skyrocket in the City
Commercial real estate investing can be a very lucrative business when done right, and many experienced brokers are now tweaking their skills in the ever-popular City of London.
Long being the centre of business in the capital, the average commercial property investment lot here was worth £109.2m in May 2017 – a 52% increase year on year. Savills has revealed that £665m, across six deals, were made in May alone.
The research has also revealed that so far this year £4.1bn in turnover across 53 deals has been made and there are now more than 20 lots in The City under offer which could be worth an additional £1.4bn.
Director in The City investment team at Savills, Felix Rabeneck, said:
“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.”
Some of the biggest deals this year have included CR Land/Colony North Star acquiring 20 Gresham Street, EC2, found next to St Paul’s, for £312m (£1,285 per sq. ft.), and SEA Holdings purchasing 33 Old Broad Street, EC2 from Evans Randall for £260m (£1,360 per sq. ft.)
Need a Mortgage for Land?
Whether in The City or anywhere else in the country, if you’ve seen a commercial plot for sale and need financial help, our brokers can help find you a loan for buying the plot which works for your specific needs.
We specialise in finding finance built around our customers’ needs and requirements, and we work tirelessly to ensure we find you a commercial finance package in a timely manner without any compromise on attention to detail.
We’re always just a phone call away, so get in touch to learn more.