Chinese Investors Join Cross-Border Buyers to Rush London Property Market
Bloomberg reports: According to data aggregated by Real Capital Analytics (RCA), Bloomberg stated in a recent article that “London’s commercial property market probably received the most [foreign] investment for the second straight year in 2010 as prospects of rising rental income attracted cash from as far afield as Hong Kong, Qatar and Canada.” RCA has tracked massive volumes of cross-border over the past two years targeting destination cities such as Paris, London, and New York City as commercial property investors look for solidly-performing assets to hedge against uncertainty and risk.
The latest example of this came with the $444 million (£280 million) sale of a portion of River Court, the large complex of office space currently housing Goldman Sachs’ London headquarters, to Chinese Estates Holdings Ltd. The space is supremely located on the City of London’s Fleet Street, and was most recently purchased by Warren & Partners in 2001 for £247 million.
View the full article on Bloomberg: Chinese Investors Join Cross-Border Buyers to Rush London Property Market
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Posted by: Nina Turner