£5 BN COMMERCIAL PROPERTY BOOM DURING THE FIRST QUARTER OF 2022 IN LONDON

New data from Knight Frank has shown that commercial investment in the capital`s real estate during the first quarter of 2022 has quadrupled compared to the first quarter of 2021.

Notable deals include Google`s purchase of Central St Giles, a Renzo Piano designed property with distinctive red, green orange and yellow facades. The development comprises some 408,000 sq ft of offices plus 100 apartments and restaurants and cafes on the ground floor.

Other deals during this first quarter have included the £ 1.2 billion purchase of 5 Broadgate, the £ 718m acquisition of The Scalpel and pension fund Australian Super`s 50% acquisition for £ 290 m for British Land`s 53 acre Canada Water masterplan project.

The flurry of activity comes as a wide range of investors turn to properties that offer secure income. London`s growth prospects, high rents, and its larger pool of buildings with a lower carbon footprint are also driving investment activity in the Capital.