UK - Property fund manager Jones Lang LaSalle has reported a turnover of £1.39bn from its West End investments and £1.7bn from its City property.
The firm’s Q2 2004 Central London Office Market Report reveals that the turnover signified a record high in the second quarter, thanks to take-up rates in the City being their highest for two years and rents in Mayfair hitting more than £70 per square foot.
Head of West End investment Julian Stocks said: “We saw more than 10 deals over £50m which is unusual.
“UK purchasers accounted for 75% of deals with many seeking to invest as the West End office market shows signs of improvement.”
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