When Chinese insurer Anbang
bid a reported ￡750m for the Square Mile’s Heron Tower this summer, it set a pricing record — despite the fact that some of its fellow foreign investors had already begun to sell out of the London property market.
Anbang’s deal — which is still under negotiation — is just the latest in a 20-year flow of overseas capital into London’s commercial property market. If the deal is sealed, the price for Heron Tower, built in 2011 by veteran London property developer Gerald Ronson, will top the ￡724m that Brazilian billionaire Joseph Safrapaid for the Gherkin last autumn.
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