January turnover was £303 million across eight deals, resulting in the yearly turnover being 40% down on this point last year. However, this is always a fairly meaningless barometer of the market, which inevitably takes time to get up to speed after a busy end to 2014.
The largest transaction of the month was the circa £125 million purchase of The London Fruit and Wool Exchange, E1 by M&G. The development has consent for a new office/retail scheme of 300,000 sq ft and is held long leasehold from the City. M&G have now purchased the site and will fund construction of the scheme, while Exemplar continue as the development manager.
Source : Savills