Mubasher: Middle Eastern investment in London is forecast to rise to GBP 1.38 billion ($1.74 billion) in 2018, surging by as much as 30% from 2017, data released by Savills showed.
Middle Eastern investors’ transactions have seen a “notable uptick” in London in 2018 compared to the 18 months that immediately followed the EU referendum, commented Hassan Farran, director in the cross-border investment team at Savills.
“These investors, many of whom are active in the UK and mainland Europe, are attracted to London’s liquidity and comparative value, and the resilience London’s investment market continues to demonstrate,” Farran indicated.
Among the top deals recorded in 2018 was Soor Capitals’ GBP 39.05 million acquisition of 23-26 Austin Friars, London EC2, the group’s first investment in the UK, and which was also advised by Savills.
Moreover, Dubai-based investor SRG Holding Limited acquired freehold interest in Victoria Beckham's global headquarters at 202 Hammersmith Road, London W6 for GBP 16.8 million, Savills said, noting that it had advised the vendor, which was one of Aberdeen Standard Investments’ segregated mandates. The transaction represents a net initial yield of 4.42% and a capital value of GBP 1,140 per square foot.
