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London office deals cut by 40%

Posted on 02 October 2008

From Thisissuttoncoldfield.co.uk: The commercial property market in London has suffered one of its toughest quarters as the deepening financial crisis batters confidence. Property firm Cushman & Wakefield today warned that the credit crunch continues to depress the central London office market, with just £1.24bn of deals completed in the last three months.

That was down 40% on the second quarter and a fifth of the £6.08bn of transactions in the third quarter last year. The scale of the wreckage was underlined by the fact 80% of deals in the last three months were by overseas investors, particularly German funds….. Full Article: Source


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