London office news 9th January 2013

Central London office investment overall rose 33% to £12.53bn last year compared to 2011, according to new research by BNP Paribas Real Estate.

However, investment into the London office market in Q4 2012 fell 14% on Q3 2012 figures. Overall in 2012, the West End saw the biggest increase in terms of investment, rising 44% to £4bn, whilst City investment rose 17% to £6.41bn. However, in Q4 2012, investment fell in both submarkets, with the West End seeing a drop of 24% to £0.91bn and the City seeing a fall of 17% to £1.22bn.

Paul Henwood of BNP PRE said: “As expected, last year was challenging with investors remaining cautious. However, London continued to be perceived as a safe location and overseas investors remained active, especially within the West End and the City.”