INDUSTRY NEWS

London office growth should continue

London will remain a key financial centre, with demand for offices set to rise, according to a new report.

Henderson Global Investors has been looking at the retail and office market in London in comparison with the rest of the UK.

According to a report in Property Week, the survey found that London would outperform the rest of the UK for the next few years.

They expect London office jobs to continue growing, with overseas businesses still looking to move into offices in the capital.

Hendersons says overseas activity has account for around 50% of City and 30% of West End office use in the past few years – a trend it expects will continue.

Director of research and property at Henderson, Andy Schofield, said: “Although there are risks that the domestic economy and financial markets will experience greater volatility than usual, London office jobs growth should still improve gradually over the next few years and London should be a key beneficiary of the faster growth in global economic activity.

“Investors in Central London offices clearly believe in the growth story, in contrast to the bigger regional office markets where over-supply and waning occupier demand appears at odds with pricing.”

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