Confidence to return to London’s commercial property market


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Central London's commercial property sector is forecast to bounce back, following a £3.9bn drop in sales last year, new research suggests. The market was hit by coronavirus disruption in 2020, with some investors waiting to see if tenant demand for offices would improve. Provisional data from property agent CBRE shows that £8.9 bn of central London offices, stores and office and retail development sites were traded in 2020. That was down 30%. But the firm saw signs of a recovery in the final quarter as COVID vaccines progressed, with sales totalling £4.5bn - the largest quarterly total for 2020. CBRE’s James Beckham expects volumes to continue to recover over the next 12 months.


Read more: Evening Standards


 

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