The central London commercial property market has seen a turbulent few months, with the General Election, Brexit uncertainty, and general geopolitical issues causing a certain amount of uncertainty. However, recent data has shown that there has been a steady flow of investment in the first half of 2017′, with over £11.5 billion coming in to the capital. In fact, July alone saw deals equating to £2.35 billion – a 24% increase on the same month in 2016.

The Interchange building at 81-85 Station Road, Croydon, has been sold for £71.5 million to Tristan Capital Partners, which represents a net internal yield of 6.25%. The previous owners were a fund advised by CarVal Investors, who comprehensively refurbished the building in 2014 in order to attract tenants with strong covenants at better rents.

Brexit has undoubtedly had an effect on the market and fiscal revenues. Post-Brexit, the market in the UK is decidedly uncertain. The most recent upset has been the nature of lease terms. Many companies, especially small and medium firms (SMEs) are now shifting the market in a different direction. Due to the uncertainty in Britain’s future, SMEs are now increasingly looking for shorter leases. This is partly because of weak negotiations with the EU, and also the worry that the government may not be able to secure a strong exit deal.

A fantastic opportunity for a company looking for a plug and play office has become available at 2 America Square. Tenant space on the part 5th floor is being offering on an assignment basis for a term until August 2020. The office is fully fitted to include two private meeting rooms, kitchen, break out area and open plan desks. The building has been recently refurbished and benefits from a client facing entrance which is manned during working hours, it also has bike storage and showers available in the basement.

The City of London is a constantly evolving hub. This includes not just the climbing skyline with its increasing number of towers, but also the style of refurbishments and the range of quality available. The new builds in the City add a large amount of square foot to the area, which means we are seeing a drastic increase in the amount of supply, as well as plenty of second hand space opening up with companies moving into the new builds.

Three commercial buildings have been acquired and bought by Galliard Homes from a fund advised by Brockton Capital. The acquisition amounted to a substantial sum of £27 million.

Morgan Pryce has recently completed a 2,700 sq ft acquisition on behalf of a digital recruitment firm in a prime City location. The office floor, in a building which has just undergone a complete refurbishment to a Category A specification, was acquired on a brand new five-year straight lease at £61.50 per sq ft, £6.00 under the quoted rent. A rent-free period of 12 months was also achieved, representing a net effective rent of £49.20 per sq ft – an excellent deal in the current City market.

Urbanest has recently announced details of its latest development, on Vine Street in the City of London, which will be a mixed-used scheme consisting predominantly of student housing and office space. A unique aspect of the scheme will be the centre point of the exhibition space on the ground floor – part of the old London Wall. The commercial office space will be made up of 75,000 sq ft, with an additional 10,000 sq ft of office space specifically for start-up companies.

Churchill House, located at 142-146 Old Street, is a building in the heart of London’s tech district comprised of office space arranged over basement, ground to fifth floors. The building was constructed behind a retained façade and is also known as Capital House.

By the end of 2019, the total office construction planned is equivalent of five cities worth. A staggering 700 million sq ft of new space is set to be completed by 2019. Equal to the total amount of space currently in the London, Washington, Dallas, Singapore and Shanghai markets. Asia is seeing the biggest increase in office development, accounting for almost 60% of the construction; Beijing, Shanghai, Manila are at the forefront of this.