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News Release


JLL responds to Walkie-Talkie Skyscraper Sale

Ben Burston Head of UK Capital Markets Research at JLL: "LKK's acquisition of 20 Fenchurch St adds to the already long list of major London office deals struck by Hong Kong and mainland Chinese investors in 2017. In the first half of the year, these buyers accounted for £3.4 billion of total London investment turnover of £8.0 billion, a share of 42%, and this will be boosted further by the 20 Fenchurch St acquisition. Hong Kong and mainland Chinese buyers have been particularly active on large lot sizes in both the City and the West End, having transacted ten single asset deals in excess of £100 million in the year to date. Demand from these investors has quickly becoming a more important driver of the market, and is clearly supportive for pricing."


Eric Pang Head of China Desk at JLL: "We continue to witness the emergence of Chinese capital globally. Chinese investors now rank just behind US as the second largest source of global cross border capital and we expect them to have an increasing influence on the UK market. Currency movements have bolstered the case for investment in the short term, but long term trends are towards a rising share of investment in the UK irrespective of these movements. Many investors from China come to the UK with different motivations and return aspirations to traditional UK and global investors. They seek diversification and safe haven forms of investment, and are less concerned with traditional return benchmarks."

-  ENDS-