London's largest and most expensive office building, HSBC Holding Plc's global headquarters, is up for sale and could fetch over 1.1 billion pounds (1.85 billion) a record price for the British market, the Financial Times reported.
Strong demand has forced average pricing in Canary Wharf up to around £750 per square foot, with some of the best units at new schemes pushing towards £1,100 per square foot, a new analysis shows.
Overseas buyers of London apartments who leave them vacant are hurting the city’s economy by making it too expensive for people who come to the capital to work, former City of London planning officer Peter Rees said.
The second half of 2013 saw a considerable pick up in real estate investment activity in the West End of London, with £5.8 billion transacted, according to the latest analysis report from Savills.
Private investors warmed to commercial property funds in the years up to the financial crisis – and then suffered setbacks as values fell. Now the sector is bouncing back very strongly, analysts say
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