Transactions hit by global crisis.
Figures from commercial property agent Lambert Smith Hampton put the total value of such deals at pounds 107.3m against pounds 263.3m for the previous three months.
The most significant deals to take place during the second quarter included Ekistics Property Investors' takeover of a distribution warehouse in Sherburn in Elmet for pounds 43.3m, Rockspring Property's acquisition of Kirkgate Retail Parade in Leeds for pounds 8.2m and Henderson Global Investors' acquisition of Lowfields Business Park in Elland for pounds 5.3m.
Of the total value of transactions, UK institutions committed pounds 68.9m during the quarter, accounting for almost two-thirds of the total activity against 38% from the first quarter of 2011.
The retail and leisure sector, which has dominated transactional activity in recent quarters, accounted for 31.6% of the market, giving way to the industrial sector, which made up 57% of the total market.
Graham Foxton, surveyor with LSH's Yorkshire agency team, said: "Despite the reported low levels of transactions last quarter, there is still a weight of money looking to invest in the right product.
"The banks' decision to become more proactive on reducing their exposure did not particularly filter through to our region in the last quarter, but hopefully this will become more apparent over the second half of the year.
"Furthermore, all eyes will be on the global financial markets and how this will affect ongoing appetite for property."
Nationally, the LSH report recorded pounds 6.6bn worth of investment transactions in the second quarter - of which just below pounds 1bn were "distressed".
* EFFECTS: Graham Foxton, of LSH's Yorkshire agency team
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|Publication:||Huddersfield Daily Examiner (Huddersfield, England)|
|Date:||Aug 16, 2011|
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