UHNWIs & family offices buy £1.3bn of London office assets in 12 months

Ultra-high net worth individuals and family offices have acquired £1.3bn worth of London office assets over the past 12 months, according to Knight Frank. Overall, wealthy private investors have been behind 44% of central London office investments over the past year, compared to the long-term historical average of 36%. With fewer prime assets being listed for sale due to market volatility, cash-rich buyers have acquired £690 million of secondary stock, or "brown" buildings requiring capital expenditure to meet modern workplace and sustainability standards. This value-add investment strat...