Investment in UK commercial property slipped 8% to £32.5 bn (EUR 42.1 bn) in 2011, according to new research from CBRE. This is still significantly higher than the £24.25 bn recorded in 2008 and £25.2 bn in 2009.

Overall UK investment in 2011 significantly outperformed other European commercial property markets, with Germany (£19.6 bn) and France (£13 bn) the second and third largest markets. The UK accounted for roughly one-third of all investment activity in the EMEA region which totalled £99.5 bn in 2011.

The full-year figure for the UK was boosted in the final quarter of 2011 as transactions were pushed through before the close of the year. Risk aversion and the consequent trend of ‘flight to quality’ have been the main drivers for investors as they attempt to avoid economic uncertainty in the Eurozone, coupled with the attraction of the UK’s long lease structure, security of income and its liquid, transparent market, the adviser said. Large deals in the final months of the year included Oxford Properties' purchase of Green Park in Reading and Crosstree Real Estates' purchase of 1-3 Berkeley Street in London.