INDUSTRY NEWS

London office space sees rise in demand

Demand for office space in London has seen something of a turn around, creating a climate of optimism about the state of UK commercial property market, according to cityam.com.

Figures for the fourth quarter, released by the Royal Institute of Chartered Surveyors (RICS), have shown that 42 per cent more surveyors in central London recorded an increase in demand rather than a fall. Impressively it represents a jump from third quarter figures that posted at 25 per cent.

18 per cent more surveyors stated that they expected sales and lettings to increase rather than decrease during the next three months, again, up 8 per cent on those figures registered for the third quarter.

The reportage of 8 per cent more surveyors reporting a rise in occupier enquiries in the fourth quarter indicates that more business may be planning to expand – overall, good news for commercial property such as office space.

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