Barclays City bank branch sold to Greek investor

A Greek investor today splashed out more than £2 million on a bank branch in the City as London becomes increasingly attractive to international buyers.

The Barclays bank branch at 18-19 Fleet Street, which also has flats above it, sold for £2.27 million at an auction held by property firm Acuitus.

That was 62% higher than the guide price of £1.4 million and further proof of the startling pace of recovery in London's property market.

Foreign investors are ploughing money into property in the capital, which is seen by many as a safe bet as the debt crisis in Greece threatens to spread across southern Europe.

Auctioneer Richard Auterac said: "There was a large presence of overseas investors in the room and its clear that UK auctions are becoming a focus for international investors looking to find good property investments."