Encouragingly, Q3 saw a pick-up in activity of deals over £100m, with 10 recorded over the quarter, up on four in Q2. The largest deal of the quarter was Lazari Investments £277m acquisition of 23 Savile Row, W1, reflecting a NIY of 4.1%.
Conversely, smaller deals have been declining over the last three quarters. As the Brexit deadline approaches, sentiment is being impacted by uncertainty and investors and sellers increasingly adopt a 'wait and see' approach.