Commercial property 'leading prime London market'

Office design news from Morgan Lovell

Published on 09-05-2011

Prime office interior space in the capital is leading the way in terms of rental growth, it has been revealed.

Mat Oakley, director of commercial research at Savills, said offices and prime retail venues are showings considerable strength in the present economic environment - a development that is bucking the general trend of rental prices in London at the moment.

He commented: "Those are the two sectors where we are actually seeing rental growth - for prime retail and prime offices. They are also the two sectors where we are seeing a lot of investor interest."

Mr Oakley added that the office recovery is presently "firmly focused" on London, but other areas should start to make headway in the coming months.

According to the Royal Institution of Chartered Surveyors, office space in London continued to outperform all other sectors and regions of the UK's commercial property market during the first three months of 2011.

Posted by Adrian Norman