Finefair has the knowledge necessary to manage blocks of properties. We are ready for any challenges and always find effective solutions. This is why so many investors enjoy working with us. It is also the reason we are the top name for block management City of London has to offer.
High demand leads to big investment
Demand for real estate in the City of London is very strong, driven by lots of interest from Asian investors. Investment in buildings hit a 28 year high in the second quarter of 2018 when it reached £3.6billion. The performance is defying uncertainty and triggering even more investment.
In July new plans to create the third tallest building in the Square Mile got planning permission. The project by Lai Sun Group of Hong Kong will develop an impressive office block with 56 storeys. It will reach a height of 263 metres and also add 102,000 square metres of offices to the area. From the early designs the project has already got the nickname “The Diamond”.
The new tower will replace two existing properties. The expectation is that the Hong Kong company will look to end existing leases in the buildings early to allow development. Construction on the new tower is expected to last four years.
Competition
There is a very interesting competitive undertone with this new project. One of Lai Sun’s main competitors is CC Land. They purchased the 225 metre Cheesegrater (122 Leadenhall Street) for £1.15billion early in 2017. The new tower will rise next to it, making the height difference more pronounced.
The financial sector in London is a thriving market for offices. There is an almost constant stream of investment and lots of interest in office space. As a result demand continues to strengthen.
Finefair is the team to call on if you need any help managing blocks. We provide value for money and a service that is both professional and friendly. When clients work with us they are confident they have the top team for block management City of London has to offer. In addition we also provide the very best guaranteed rent services.
Contact us today if you want to find out more.
