INDUSTRY NEWS

London businesses seek new office space

A recent report has indicated that demand may already be increasing for new office space. London-based financial companies are looking for new prime office space as their leases are soon to run out, while others are looking to upgrade from their ageing offices.

Schroders, for example, which has its head office at 31 Gresham Street, is looking for new offices as its lease is due to run out in 2015. The company will need 250,000 square feet of prime office space. Other businesses, such as Close Brothers and Aon are also seeking new offices.

The anticipated increase in demand for space has prompted many development companies to re-instigate building projects that were placed on hold due to the recession.  However, despite the predicted demand, figures from one estate agent indicate that uptake of office space in the last quarter was the worst since early 2009.

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