City of London Fails to Score a Single £100 Million Office Deal

London’s historic financial district is on the cusp of notching a grim record: the City’s office market has failed to register a single deal for more than £100 million in the first half of the year — the first time that’s happened in a quarter century.

The dire stat reflects the realities of a district known for its vast office towers and corporate headquarters at a time when traditional buyers of big-ticket properties are nowhere to be found. Instead, the anemic activity that is taking place is for smaller properties — those well under £100 million ($126 million) mark — that can be comfortably swallowed by private capital.