Figures released by Capita Symonds’ Real Estate division show mixed fortunes for the central London markets. Investment turnover was up 21% against the first quarter and development starts saw a marked increase in the first half contrasted against overall occupier take-up which was down 21% on the previous quarter.
The ‘Central London Overview Q2: 2012’ report shows that although some central London markets have now seen below average take up for six out of the last seven quarters, rental values continue to hold across all sub-markets and London has maintained its position as a safe haven for foreign investment as disruptive global economic conditions show no sign of abating.
The surge in investment in the London office market this year has been particularly striking driven by increased supply and a growing weight of investment appetite demonstrating London’s continued attractiveness to international investors. Investment in the capital is estimated at