CBRE: Central London office space activity rises in Q2

Office design news from Morgan Lovell

Published on 09-07-2010

Activity in central London's commercial property market increased in the second quarter of 2010, new research has revealed.

Figures from CB Richard Ellis (CBRE) showed leasing activity in the innermost areas of the capital were boosted due to a number of large deals coming through at the end of the three-month period.

The organisation pointed to four agreements in particular, which saw more than 50,000 sq ft of office space being acquired in each case - pushing June's total take-up to 1.4 million sq ft.

This performance was over twice as good as the statistics compiled for the previous month, it added.

"While demand weakened in the second quarter, this was from a near record level and take-up for the year to date is more than three-quarters last year's total," Digby Flower, head of CBRE's central London agency, stated.

The firm's Richard Holberton last month claimed the capital has seen "the most remarkable" recovery of all European cities for office space in the last six months.

Posted by Adrian Norman.