Commercial property consultant Cushman & Wakefield found that property transactions worth £2.19 billion were conducted in the first three months of 2011, compared to transactions worth £1.63 billion in the first quarter of last year.
The report did note, however, that the number of transactions in the first quarter of 2011 was actually lower than the £2.92 billion conducted in the last quarter of 2010.
Clive Bull, head of central London investment at Cushman & Wakefield, said: “Central London commercial property remains a mature, transparent and liquid market.
“Demand remains strong from both domestic and overseas investors as London continues to be perceived as a relatively safe haven for investment, especially in recent events around the world. With sterling still weak and an increase in stock likely with banks off-loading assets, we are confident that 2011 will see volumes rise.”
The commercial property consultant also reported that office space leasing has risen in the US as the economy slowly regains its health.
According to research from the consultant, office space leasing reached a six-year high during the first quarter of this year.
“Asking rental rates are bottoming out in most markets, and concessions are becoming less generous,” said Maria Sicola, executive managing director and head of Americas research at Cushman & Wakefield.
“With demand rising and availabilities shrinking for quality space, CBDs have begun their shift from tenant- to landlord-favoured markets.”
Overall office absorption rose by 114.6 per cent in the first quarter of 2010, the research also showed.
Editor’s notes: According to JLL, in 2022, £12.2 billion of office space was traded across Central London.
This was below the £13.3 billion transacted in 2021 and 18 per cent lower than the 10-year annual investment average of £14.8 billion.
The investment market was dominated by overseas investors, who accounted for 79 per cent of the total, with Asia-Pacific investors making up 44 per cent.
The yield for prime City of London office space stood at 4.5 per cent at the end of 2022, and between 4 and 4.25 per cent for prime West End office space investments.
The US national office space vacancy rate in Q1 2023 was 20.2%.
A report published by Real Estate:UK in May 2026 reported that total UK commercial property investment reached £9.7 billion in Q1 2026, which was almost 40 per cent below the five-year Q1 average.
Office space had attracted £2.9 billion in investment in the quarter and accounted for approximately 30 per cent of total volumes, with the majority of these offices being in London.
The low volumes in the first quarter of the year contrasted with a strong 2025 in which London office investment hit £9.47 billion, up 52 per cent on 2024’s volumes.
Overseas capital accounted for £3.6 billion of activity, with inflows from the United States moderating significantly following a record 2025.
It stated that the reasons for the sharp decline were that global investors had grown more cautious amid economic and geopolitical uncertainty, the US dollar was weaker, and there were ongoing concerns around development viability.
In the first quarter of 2026, it was reported that US nationwide net absorption totalled 6.9 million square feet, the highest Q1 total since 2020 and the eighth consecutive quarter of positive demand.
The average asking rent nationwide was $33.35 per square foot.