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European property owners continue to invest as the continent's market booms
06 Sep 2011
Property owners in Europe have been made aware that investment on the continent has increased on the whole while other geographical trends have also appeared.
Data released by AXA showed that it completed 80 transactions comprising €1.19 billion of acquisitions and €939 million of sales completed during first half of 2011. This is compared to €2.7 billion of transactions undertaken for the whole of 2010.
Geographical trends, which are said to reflect client strategies, included
46 per cent of acquisitions taking place in the UK, compared to 25 per cent last year and 19 per cent in France compared to 18 per cent last year. In addition, over 60 per cent of sales undertaken in the first half were in France, showing a major net move out of the country.
Anne Kavanagh, global head of AXA Real Estate Property Services Group, said: "We have continued to accelerate our transactional activities following the progress we made last year, delivering a number of key deals to support our clients’ strategies."
A notable transaction during the first half of 2011 was the acquisition of 20 Gresham Street, a 240,000 sq ft fully let prime central London office.
Posted by Dan Winters