In comparison to Q2 2013, this represented a marginal increase of 7% across the region; however a considerable improvement on Q3 2012 levels of £215m.
Industrial sector activity levels up 211% on the previous quarter
The most significant deals to take place during Q3 included Standard Life’s purchase of Travis Perkins industrial unit at Omega North, Warrington for £52.8m, WP Carey’s purchase of Trinity Bridge House, Manchester for £45.25m and Benson Elliot’s acquisition of the Fishergate Centre, Preston for £40m.
The Travis Perkins deal provided a significant boost to the industrial sector with activity levels increasing by 211% from the previous quarter. The retail sector remained strong, accounting for 36% of the total market at £111.6m. Investment volumes in the office sector totalled £46m, this represented a 48% drop from the £95.9m transacted in the previous quarter, but a considerable increase from the £10.5m recorded in Q3 2012.
UK Buyers remain strong investors in the region
Abid Jaffry, Director and Regional Head of Capital Markets at LSH commented: “As confidence within the occupational market increases and the regions offer value compared to Central London in particular, we can expect to see a continued increase in investment activity in the final quarter of 2013. In particular, we should see investment volumes rise within the office sector, where there are currently a number of opportunities being discussed off market. UK buyers remain key investors, accounting for 34% of total activity in Q3; however we are beginning to see increased interest from overseas investors and private equity companies looking for opportunities within the region.”
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