Central London Office Market bounces back
Planning an office move to London? Get the very latest news and activity from the Central London Office Market.
If your business is planning an office relocation to the capital, the market is showing positive signs of recovery. This is good news for those relocating their business to Central London as it gives tenants more choice of office space, and with the economy still recovering, there could be good office lease deals to be had too.
During the month of August, nearly 1.0m sq. ft. was occupied across all markets. According to the latest research from London Property Agents, office space transactions in Central London were 72 per cent higher than in the same period last year.
Digby Flower, Head of Central London Agency, CB Richard Ellis, said: “August was a busy month for office leasing deals and under-offers continue to remain healthy at 2.9m sq ft.”
While take-up in the City remained broadly flat at 313,000 sq ft, in the West End it rose 22 per cent to 278,100 sq ft.
Key office leasing transactions in August were:
- International Law Firm, Trowers & Hamlin - 95,500 sq ft at 3 Bunhill Row, EC1
- Business and Technology Consultancy, Detica - 40,000 sq ft at 110 Southwark Street,SE1
- Investment Bank, Evercore Partners – 34,700 sq ft at Stanhope Gate, W1.
If your office move to London is not planned till next year, there is over 14m sq. ft. of office space currently under construction – giving your business plenty of opportunity and choice of brand new potential office space that may suit your requirements.
No matter when your office move to London is planned for, you’ll need a Moving Office Checklist to organise your office relocation from start to finish.
Find a Property Agent in Central London to help you secure the right office space and then negotiate the best office deal on your behalf.
