Strong investment interest in UK property despite Brexit

Investor interest in UK property remains strong despite uncertainly cerated by Brexit

The biggest sale deal of a single building in the UK since 2014, when the HSBC tower in Canary Wharf was sold to Qatar’s sovereign wealth fund for £1.18bn.

The “Cheesegrater” the 224m, tallest building in the City of London, has been sold to a CC Land, a Hong Kong –listed company controlled by Chinese property tycoon Cheung Chung-kiu, for £1.15bn, the second biggest sale of a UK building.

Designers Rogers Stirk Harbour + Partners, the Chessegrater got its nickname from its wedge- shaped, especially created to preserve the views of St. Paul’s Cathedral.

More Towers are planned like the 304.9 m Trellis Tower at 1 Undershaft, which will be as high as the Shard the tallest building in Western Europe.

London’s property industry is forecasting investments  past £22billion for this year, which  will be spent  on central London offices, shops and leisure properties, gyms, multiplex cinemas according  Colliers, site Brexit vote.

In the first half of the year,  £4.7 billion of purchases by the Chinese in the capital including the Cheese grater skyscraper, as investors are attracted by a weak pound.

Apart from the Chinese, investors from US, UAE and Lebanon all are shopping for office buildings  with a starting  price of £50 million.

American firm Thor Equities and real estate firm AEW recently sold on behalf their German customers, paid £180 million for the New Oxford Street Office of talent agent WME.

Shaftesbury, China Town and Shaftesbury Street Landlord thinks, investment interest will always be there from international investors.