Sky-high central London office rents mean that investors are paying record amounts for commercial real estate

A total of 14 buildings worldwide sold for more than $1 billion in the first half of this year – five of these have been in London. Earlier this week, Royal Bank of Scotland Group sold the 42-storey Citigroup European headquarters in Canary Wharf, London, to Irish investor Derek Quinlan for the sum of $2 billion, representing the second largest property transaction in British history.