Take-up of central London office space thrives as under offer levels hit 18

the London office leasing market has rebounded in a remarkable fashion as occupier appetite for London office space reaches record levels, with under offers at an 18 year record high.

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Central London office space under offer has soared to an 18-year high, according to the latest figures from global real estate advisor CBRE.

Roughly 4.3m square feet (sq ft) of offices in the centre of the capital was under offer in the second quarter of this year, rising 39 per cent over the three months to levels not seen since the millennium.

Take-up of office space also rebounded strongly from a poor first quarter of 2018, increasing 21 per cent as landmark deals such as the Chinese embassy move to the Royal Mint Court on the edge of the City drove the growth.

Dan Gaunt, a central London partner and head of city agency at Knight Frank, told City A.M.: "At boardroom level now it's so important that staff are key to the health and success of the business that they have to house them in the right quality of offices. Property has a louder voice in the boardroom than it ever has done before."

  • Date: 2018-07-12T11:54:00+0100
  • Author: Sebastian McCarthy
  • Twitter: @cityam
  • Citation: Web link

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