UK commercial property market becomes hub for US investors |
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Fri, 22 Apr 2005 01:00
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Overseas investors seem to have found their lucrative call in the UK. Commercial property values rocketed to an enormous 152% in 2004 to reach £15.9bn in the UK, it was clear that US investors had grabbed the lead in commercial property activity, with their purchases amounting to £7.2bn.
It was further noted by the DTZ Research report of Overseas Acquisitions into UK Commercial Property that the remarkable hike in overseas purchases was an outcome of improved levels of corporate and investment portfolio transactions that were taken in the year 2004. Moreover, cross border acquisitions registered a 10% rise than their 2003 market value, absorbing about one third of the UK total real estate purchases.
| US investors, all in all, amounted to about 45% of the major investment activity in UK, with German and Irish investors following closely. German investors were found to have a £2.5bn demand for property, a 15% increase than the past year. Meanwhile, Irish investors displayed £2.8bn acquisitions in 2004 and about 80% of their total investment activity came from private investors.
With increased purchasing activity throughout the main commercial sectors, it was office properties, nonetheless, that attracted the maximum attention. They were the most preferred amongst investors as they drew around £10.5bn, about 60% of the entire invested capital.
DTZ, nevertheless, advised Liverpool to strive harder in order to sustain the local market by pulling in additional city residents. As residential associate director of North West DTZ, Rob Sumner, explained, "It is the responsibility of all those parties with a vested interest in attracting developers and occupiers to the Liverpool, that the most is made of the city's cultural heritage and current position on the domestic and international stage."
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