Data from Savills revealed that this represented a 185% increase on the £489m transacted in June.

The City of London — which experienced its second-highest monthly turnover in 2019 — had nine deals worth £1.017bn completed in July, compared with just £318m in June.

The West End transacted £377m across four deals in July, compared with £171m in the previous month.

One of the West End’s deals included 23 Savile Row, which sold for £277m and represented the largest transaction in the area so far this year.

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“The boost in activity we have experienced is reflective of a number of factors, ranging from improved sentiment and stronger demand for assets on the market,” said Paul Cockburn, director of the West End investment team at Savills.

In 2019 to date, US investors have accounted for the largest share of investment in the City (37%).

Richard Bullock, director in the City investment team at Savills, added: “With sterling continuing to track lower, and an increase in value-add and core properties being marketed, we are seeing a rise in interest from international investors.”