London Central Portfolio: New Central London Tenancies from Asia Pacific Tripled in 2021

Latest Central London Rental Trends from UK capital’s leading agent London Central Portfolio (LCP) for smart sourcing, acquiring, refurbishing & meticulously managing prime residences

Central London’s leading one-stop-shop buying agency London Central Portfolio (LCP) reveals in their latest research paper into 2020 Central London leasing trends that new tenancies from Asia/Pacific more than tripled last year compared to 2021. New tenancies for the more than one billion GBP worth of Central London real estate that LCP has under management were up from 5% of the total in 2020 to 15% from Hong Kong, Singapore and other Asian tenants last year.

“The return of tenants from the Asia-Pacific region is an indication of how popular London remains as a global destination of choice for those wishing to further their education within the prestigious UK education system alongside those taking up employment opportunities,” said Andrew Weir, Chief Executive of LCP.

“The second half of 2021 felt as though we received two years’ worth of tenants all arriving back into London at the same time. Perhaps the simultaneous and sudden return of tenants from the Asia Pacific region, both previous and new alike, was inevitable after the disruption to traditional seasonality created by the pandemic and various UK ‘Lockdowns’.

Agreed rents on new tenancies also improved throughout 2021 due to increased demand and competition as tenants returned to prime London. Q4 2021 witnessed an average 11.07% increase on preceding lease levels, correcting the deep discounts that were granted during the same period in 2020.

LCP is renowned among London’s premier real estate agencies for its track record of smart sourcing and acquiring, refurbishing and meticulously managing prime residences for international investors. By specialising exclusively in Prime Central London comprising the two boroughs of Kensington & Chelsea and Westminster, the agency has become the leading expert in what is almost certainly the most sought-after international real estate market in the world.

Hong Kong and Singapore investors comprise over 40% of LCP’s active clients.

For a full copy of the 2021 London Central Portfolio leasing trends report, please click here.

Issued on behalf of London Central Portfolio by GHC Asia Limited.

For further information, please contact:

London Central Portfolio
+44 (0)207 723 1733
Address:
LCP House, Ogle Street, London W1W 6HU
Email:
contact@londoncentralportfolio.com