Business Irish

Monday 18 December 2017

Irish own €3.7bn worth of City of London properties

Irish businesses are now the third biggest foreign investors in The City, London's traditional financial district, and own around 3.4 million sq ft of office space at an estimated valuation of £3bn (€3.7bn).

This represents 8pc of the total overseas investment in commercial property in The City according to research by Beechcraft Corporation (HBC), a global manufacturer of business, special mission and trainer aircraft.

It has found that strong investment by Irish corporates in commercial property in the City of London has coincided with an increase in business flights into the UK from Ireland -- they increased by 14.7 pc between 2009 and 2011.

Others well-represented in the City include from Germany and the Middle East, whose businesses own an estimated £12bn and £4.5bn of commercial property there respectively.

"London remains one of the biggest and most influential financial capitals in the world and it is therefore no surprise to see that commercial properties in the City are still very much sought-after by overseas businesses, said Sean McGeough, HBC president, Europe, Middle East, Africa and Asia Pacific.

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