INDUSTRY NEWS

London office space in demand

Two separate articles in The Telegraph today both show the high demand for London office space.

The first of the articles outlines the profits of one property company who have been boosted by the popularity and demand for London office space.

The market for London office space has also benefitted from the large amount of technology, media and telecoms companies (TMT) as the other from The Telegraph explains. Their take up of West End office space has seen them become the largest acquirer of offices in the area, overtaking financial services.

This demand has been driven by technology and web-based companies who are seeing significant investment in their sector. This led to 3.3million square foot of office space being leased in the West End last year.

It is the first time since before the dot com bubble burst that TMT companies have overtaken financial services in the London office space stakes and with one company disclosing that 20 companies are looking for over 798,000 square foot of office space in the West End and Google, Twitter and Facebook all understood to be looking to rent offices in Central London this trend could well continue.

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