INDUSTRY NEWS

London office investment falls

Recent figures have suggested that investments in many London office space developments have declined during the first three months of the year.

According to data collected by a leading London property firm, the total expenditure on London office transactions stood at £1.6 billion during the last three months.

At the same time last year the figures reported during the same three months that spending on offices was £3.6 billion.

There is no specific reason for this decline but problems in the Arab world could play a part in the lack of investments according to James Roberts, head of central London research.

He said: “It is impossible to ignore the fact that this slowdown has coincided with an uncertain time for the global economy.

“The downbeat economic news and unrest in the Middle East has cast a shadow over sentiment, however, medium-term this will probably benefit the London investment market as we expect more sovereign wealth and oil economy interest.”

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

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