News and Views

A Grate Deal of Deals

CC Land’s purchase of the Cheesegrater, 122 LeadenhallStreet EC3 looks set to precipitate a “spree of spending” on prime London assets in 2017, according to a recent Propertyweek report.

The deal for the City of London’s tallest building was the biggest ever recorded in the City at £1.15 billion; and it looks set to spark the interest of a number of other overseas investors in  Asia, the Middle East and Europe who will seek out prime London assets. 

Interest in London assets has increased following a continued low value of UK currency, which gives overseas investors an effective 15 to 20 per cent discount.  

British Land and Oxford Properties developed the building at the height of the UK’s economic recovery in 2011. The building is fully let to a number of tenants and has achieved record rents of over £100 per sq ft in the City of London.

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