INDUSTRY NEWS

London office space in high demand

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Since 2000 London office space has been highly sought after, but now in 2014, demand for office space in London is at its highest.

Following Amazon’s purchase of all 431,000 sq ft of Principal Place, demand for office property in the UK capital is up by 39%.

Due to high demand there has been a huge drop in the office space available and approximately 3m sq ft of office space has been taken up by renters and buyers alike in the last quarter of this year.

London beat both New York and Paris to be named the most desirable city to work in.

It also beat California’s Silicon Valley as the most attractive city to relocate to for tech savvy businesses.

However, London is behind Manchester, Birmingham, Coventry and Liverpool when it comes to delivering a high standard of mobile service.

Despite being the first city to get 4G and being hailed by Boris Johnson as the first city in the entire world to get 5G, the mobile service in London is lagging behind.

In fact, London is now ranked fourteenth in the UK for mobile call performance – not yet completely fulfilling its role as number one for mobile service.

By: Kirsty MacGregor

News bought to you from DeVono Cresa, the award-winning commercial property advisers, specialising in Central London office, retail and leisure space.

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