Report shows London office interior activity is up

Office design news from Morgan Lovell

Published on 15-01-2010

A new report by Cushman & Wakefield has revealed a flurry of office moves in the last few months has increased demand for property in the capital.

Office relocation projects by large-scale businesses made up 41 per cent of the city's annual office interior take-up in the last quarter of 2009.

The report noted 2.6 million sq ft of office space was moved into during the last three months of the year - the largest quarterly uptake since the collapse of Lehman Brothers.

James Young, head of Cushman's City office, said: "With rents on prime City space now showing growth, 2010 will be a time for occupiers to secure terms for their future business before the onset of a shortage of new space."

Elsewhere in the capital, CIT Group appears to be leading the bidding for the purchase King's Tower in central London.

The group has tabled a bid in excess of £50 million for the property, although the building's owner is yet to confirm any agreement.

Posted by Ian Johnson.