Central London office interior supply 'is up'

Office design news from Morgan Lovell

Published on 21-01-2010

The supply of office space in central London rose dramatically in 2009, a new report has shown.

Clive Bull, head of the central London investment team at Cushman & Wakefield, noted research by the firm highlighted a 71 per cent increase in modern office design space in the capital throughout the last 12 months, meaning the market performed a lot better than had been expected.

However, the report noted that availability in central London only rose by three per cent last year.

As a result, Mr Bull commented: "It is all a bit tight. For grade A space, everyone knows exactly what buildings are available and there is not an awful lot more coming out of the ground."

Elsewhere, King Sturge recently predicted prime central London commercial rents will increase by 10.5 per cent by the end of 2010.

However, the firm noted rents outside of London are predicted to fall further in 2010, though the worst of the adjustment is thought to be over and the rate of decline is expected to slow.

Posted by Ian Johnson.