Commercial property investment 'on the rise in London'

The level of investment recorded in London's commercial property market has increased for the first time since the second quarter of 2007, it has been revealed.

Figures from Cushman & Wakefield found that £1,433 billion was put into assets based into prime areas in the city, which is an increase of 110 per cent on the figure of £679 million in the first three months of this year.

The West End experienced the biggest rise in interest, with a 250 per cent increase in investment recorded from figures for the previous three months.

Clive Bull, head of central London investment and partner in Cushman & Wakefield's London Group, said foreign interest in the area was particularly prominent.

He added: "Their interest has been fuelled by a perception that the London market represents relatively good value, the continuing weakness of the pound and the lack of competition from the traditional UK/Irish debt buyers."

Cushman & Wakefield has previously released predictions claiming the UK will be among the first commercial property markets to recover from the recession.