Global investment in London office space remained strong at the start of the year, but is expected to dip in the run-up to the EU referendum next month.
A total of £3.5bn was invested in the traditionally subdued first three months of the year, on a par with the same quarter in 2015, according to data from the real estate advisory firm CBRE. The figure was down from £4bn in the fourth quarter of 2015, which was particularly strong.
CBRE recorded 43 transactions in the first quarter, the lowest number since 2010, but said the number of large deals above £100m was the highest since records began in 1985.
International investors continue to dominate the market, and were involved in 67% of all transactions, down from 71% in the fourth quarter. Taking advantage of the weak pound, they poured in more than £2.4bn of investment into London offices.
