Commenting on news that Saudi investors have reportedly tabled a £1.3bn bid for the iconic Grosvenor House and Plaza hotels, Bruce Dear, head of London real estate at Eversheds, says:

"These assets are textbook downturn targets, with falling sterling, price pressures and distressed owners all combining to maximise profit on entry. Against this backdrop, London property is suddenly an enticing pick 'n' mix for international investors."