London’s office market is benefiting from a sharp rebound in activity during the final quarter of 2020, with pent up investor demand released as confidence in the future of the office is reinforced by the rollout of a COVID vaccine.
According to the latest research from Knight Frank, with £3.5 billion (€3.8 billion/$4.7 billion) worth of transactions so far in the fourth quarter and a further £3.2 billion (€3.5 billion/$4.3 billion) under offer, the market has already beaten the long-term quarterly average of £3.4 billion (€3.7 billion/$4.53 billion).
The start of the quarter saw numerous big-ticket deals, including Brookfield’s sale of 1 London Wall Place for £480 million (€524 million/$640 million), CPPIB’s sale of their 50 percent of the Nova Estate for £450 million (€491 million/$600 million) and Mitsui’s sale of White City Place for £235 million (€256 million/$313 million). That has now been bolstered by LandSec’s recent sale of One an
