Rendering of Nine Elms Square The UK was the second-largest destination for outflows from China, although also the location of the quarter’s biggest deal in the Nine Elms Square development site.

HONG KONG—Reports that Chinese outbound investment in commercial property has declined recently aren’t merely anecdotal. Cushman & Wakefield said Tuesday that outflows from the mainland had fallen 51% year-over-year to US$2.5 billion in the third quarter, the lowest total in 14 quarters.