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The investment market seems to have quickly returned to crazy levels of activity in London and the south east of England again. The sheer weight of money chasing product is one factor, but as usual this market is out of sync with occupational demand, which is at an all time low. When you see a St James office let to a serviced office for 4 more years looking likely to sell for a yield of 5.25% or better, we can’t help but think the world is quickly going crazy again. It wasn’t that long ago, those investors wouldn’t touch serviced offices with a barge pole, as it was perceived they had a poor covenant.