INDUSTRY NEWS

Offices contribute to positive commercial property growth for January

The UK Monthly Index published by CB Richard Ellis has shown that commercial property (such as office space) has produced a return of 0.7 per cent for January 2011, according to a leading office space search website.

Capital growth for the sector also posted growth results of 0.2 per cent.

Office space in London continued to ride on the coattails of a strong end of 2010, with annual returns of 16.1 per cent and capital growth of 8.9 per cent – incidentally the highest figures since 2006.

As far as the performance of offices in London went, it was the offices that were located in the City that saw the stronger results, ultimately outperforming those located in the West End.

Senior Analyst for CBRE (CB Richard Ellis) commented: “After a stronger than expected finish to 2010, all eyes are on the performance for the year ahead, with a strong focus on whether Central London, and prime property in general, can maintain its positive trajectory this year.

“The results from January’s Monthly Index display a continuation of last year’s trend, with Central London outperforming the other property sub-sectors for the 13th consecutive month,” he continued.

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