Demand For London Offices Continues To Grow
30/08/2011
There has been an eight per cent rise in active office demand in Central London in the last month, according to the latest research. Requirements in the City increased 13 per cent to 7.6m sq ft and remained steady in the West End at 4.8m sq ft.
July saw Central London availability rise 2 per cent to reach 13.9 million sq ft as deals for newly completed space rose sharply. Activity was focused largely in the City and West End where take-up totalled 310,800 sq ft and 227,200 sq ft respectively.
Digby Flower, Head of Central London Agency, CB Richard Ellis, said: “Take-up in Central London was subdued during July as occupiers continued to reflect current economic conditions. However, a fourth consecutive month that space under offer has remained at or above the ten year average re-affirms our belief that the second half of the year will witness an improved picture on the first half, particularly as we have begun to see the return of the pre-let market.”
Source: Property Magazine
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