INDUSTRY NEWS

High London rental prices not putting off businesses

High London office rental prices are not holding back business expansion. Servcorp is the latest company to expand their London office space, having chosen to relocate to the Canary Wharf area, according to a leading property website.

Servcorp’s move to Canary Wharf is similar to the planned move by JP Morgan, to ditch one million square feet of City office space and also relocate to Canary Wharf to the office which used to be occupied by the Lehman Brothers.

This movement of financial service giants could encourage smaller service tenants back to Canary Wharf. The area is currently housing the European headquarters of some of the top transnational banking firms, including Citigroup and Barclays.

40 Bank Street is the new London office space in which Servcorp is taking up residence. The building is one of the tallest in Canary Wharf, and is also home to Allen & Overy, ANZ Bank and Saxo Bank.

Commercial propert news brought to you direct from DeVono Cresa, experts on London office space.