The first quarter of 2017 has proven to be the most active first quarter ever for London real estate investment, according to global real estate advisor CBRE.
A total of £4.9bn was transacted over the course of the quarter, the highest quarterly total since Q4 2014.
This follows a strong performance at the end of 2016, which saw £4.1bn transacted in Q4, providing further evidence of the resilience of the London office investment market following the EU referendum.
A total of 13 deals of £100m or larger transacted in Q1 2017 compared with 11 in Q4 2016.
Overseas investors once again dominated the market; accounting for 80% of all transactions by volume in Q1 2017, up from 74% in the previous quarter.
In a continued vote of confidence in the London market, appetite from overseas investors for large lot sizes also remains undiminished.
Nine of the 13 transactions amounting to £100m or more were purchased by overseas parties.
Stephen Pearson, head of city investment properties at CBRE, said: “The momentum we experienced at the end of last year has shown no sign of abating in the early months of 2017 and London remains a central focus for international capital requirements.
“This is a great endorsement of London’s continued appeal and testament to its resilience and ability to adapt and diversify. Appetite from overseas investors for large lot sizes, particularly in the City, will be a key feature of the market for the remainder of the year.”