Positive Outlook – London Office’s Are In Demand
According to a research conducted by global property adviser CBRE, office’s in Central London is experiencing a positive start to 2012.Despite figures being below those in December, take-up of offices in London has climbed 38% higher compared to those last year.
Docklands saw the largest increase, with take-up jumping from 9,300 sq ft to 90,200 sq ft, boosted by the 74,700 sq ft deal by the Financial Ombudsman Service at 191 Marsh Wall.
Office availability in Central London rose marginally in January and now stands at 16.1m sq ft as more secondhand space came back onto the market. Space under offer fell to 1.82m sq ft, the lowest level since June 2009, but active requirements in Central London are well above the long-term trend at 11.19m sq ft.
Emma Crawford who is the executive director of CBRE said that space under offer has fallen but requirements are still at a healthy level and we remain optimistic that this will translate into activity in the market.