As we have reported previously, Chinese investors already own The Cheesegrater and The Walkie-Talkie building in the City of London.
First, it was The Cheesegrater; then, The Walkie-Talkie. Now, industry analysts are asking what will be next as Chinese commercial property investors snap up London landmarks. The Gherkin? The Shard?
The buildings are all high-rise towers in and around the City, London's main financial district.
Last month LKK Health Products Group paid £1.28 billion last month, the largest price tag for a UK building, when it bought 20 Fenchurch Street, which is nicknamed The Walkie-Talkie due to its unique shape.
Recent figures from estate agents CBRE say investors from China bought UK commercial property worth £4.5 billion in the second quarter of 2017, a six-fold increase year-on-year.
Statistics from estate agent JLL show Chinese buyers invested 3.4 billion pounds in London properties overall in the first half of this year, which was 42 percent of all purchases.
Speaking to Chinese media Eric Pang, head of the China Desk at JLL, said: "We continue to witness the emergence of Chinese capital globally."
He said he expects China's share of investment in the UK to continue to rise.
Speaking to Sino previously a JLL spokesperson said that London was one of the top investment targets, attracting about 16 percent of overall Chinese mainland outbound property investment, running second only to New York, which took 18 percent of the total spend.
"Acquiring quality property in a bid to generate a long-term income stream has become a mainstream model for Chinese outbound property investment," a CITIC Securities Co research note said.
But it's not just the buildings that China is interested in, it seems Chinese banks have used Brexit uncertainty to acquire talent within the City of London.
Speaking to the Press Association Sherry Madera, the City of London Corporation’s special adviser for Asia said: “Chinese banks are seeing a great opportunity to hire great talent who (think) now could be an interesting time to shift to an international player”.
“They are finding this environment of uncertainty to be an opportunity”.
Source:Sino
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