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http://www.propertyweek.com/news/retail/-investors-spend-%C2%A31bn-on-prime-central-london-retail-property-in-h1/5084538.article

10/08/2016

Investors spend £1bn on prime Central London retail property in H1

Investors acquired £1bn of Central London prime retail property in the first half of the year, according to research from CBRE.

Aberdeen's sale of 361 Oxford Street has been one of the biggest retail deals of the year

Aberdeen’s sale of 361 Oxford Street has been one of the biggest retail deals of the year

The total dwarfs the H1 average of £700m seen in recent years.

Total investment for 2016 is also set to swell significantly in August, with a further £450m worth of deals expected to complete this month.

The market’s reputation as a secure long-term investment has also been bolstered by a third successive quarter of prime yields at record lows.

Phil Cann, head of UK retail at CBRE, said: “London shops have been seen by many as the ultimate safe haven investment, with buyers bucking the ‘wait and see’ trend we have seen in other sectors.

“The strong H1 investment volumes are even more remarkable when considered against the backdrop of uncertainty created by the EU referendum and what is normally a typically slower first half.”

London shops have proved particularly attractive to overseas investors, who represented 60% of volumes in H1.



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