Momentum in the market was particularly strong in the fourth quarter, with £3.28 billion invested—the highest level since Q3 2022 (£3.9 billion). Notably, this marked only the third quarter since early 2022 in which investment volumes exceeded the ten-year average, while December stood out with transactions totaling £1.8 billion.
The largest single transaction of 2025 was the acquisition of 100 New Bridge Street (EC4) by the owner-occupier State Street Capital for £333 million. Other major deals included the sale of 70 St Mary Axe (EC3) by Nuveen for £331 million, the purchase of 1 Newman Street (W1) by Royal London (£250 million), and the acquisition of 11–12 Hanover Square (W1) by Delancey (£170 million).
On the investor front, domestic capital dominated, accounting for 30% of acquisitions, with European capital closely following at 29%. By investor type, property companies (propcos), institutional investors, sovereign wealth funds, and owner-occupiers collectively accounted for 77% of total investment volume. In contrast, the participation of private capital markets and private equity declined slightly compared with 2024, each representing approximately 10% of total activity.
Christian Capocci, Associate Director in the Capital Markets team at Colliers One London, commented:
"London is re-emerging as a top-choice destination for a wide range of investors, and the strengthened figures of 2025 reinforce confidence in the market’s trajectory for 2026."
He further noted that the changing market sentiment is reflected in deal sizes:
"The number of transactions exceeding £100 million more than doubled in 2025 compared with 2024, and eight similar-sized deals are already under negotiation at the start of 2026. These figures, coupled with the strong activity in December, indicate a particularly positive start to the new year."
Colliers’ One London platform brings together specialized teams across retail, hospitality, capital markets, office leasing, tenant representation, and strategic analysis, providing clients with in-depth knowledge of London’s individual markets and tailored advisory services.
