Central London office demand still strong
CB Richard Ellis has published research showing that tenant demand for office space to let in Central London remained strong in February, with take-up still above 1m sq ft, for the third month in a row.
“With under offers rising in February and over two million sq ft transacted for the year to date, the first quarter of 2010 will be strong,” CBRE said. It noted that landlords have already reacted to the increasingly competitive market, with rents for Central London office space to let increasing in recent months, and said that falling supply was expected to drive rental growth over the rest of 2010.
The availability rate for Central London fell to 8.1% in February – the lowest level since the end of 2008.
