The United Kingdom is the leading European location for brown to green office refurbishments, as transaction activity recovers and outdated stock comes onto the market.
Robert Bahr, managing director and head of German investments at Feldberg Capital, said London, in particular, is witnessing large demand from occupiers for office buildings that fit modern working practices and also deliver energy consumption efficiency. “We see a recovery in the U.K. office market and there is a lot of outdated stock,” said Bahr, who is also a member of the manager’s investment committee.
Few investors are prepared to buy old assets, however, giving managers such as Feldberg Capital a degree of first-mover advantage.
“If you are in the right locations within the London market, such as the West End, and also in the city, you see that there’s occupier demand,” Bahr said. “We also have a strategy where we invest in Zones 2 to 5. And we are on plan in terms of constru
