Central London Boost from Foreign Investment
Jones Lang La Salle has reported that spending across Central London’s office property market for the first 6 months of the year increased by nearly 30% in comparison with the same period in 2010, with 57% of the ┬ú5.4 billion coming from foreign investment.
Property Magazine International has quoted Damian Corbett, Head of London Capital Markets at Jones Lang LaSalle, advising that “London remains the focus for global capital, with far eastern high net worth interest particularly evident.”
Director of Jones Lang LaSalle’s International desk, Chris Brett added “London continues to show relative value on a global basis so demand from overseas remains buoyant. Asian capital is a growing force in the London market and we expect this to continue in the third quarter.”
With a shortage of Grade A office space forecasted in 2012 onwards and the rising cost of office space, new developments could prove lucrative with a growing demand for space.
Snapshot of the Serviced Office Market
officebroker.com has seen enquiry levels for serviced office space increase by 20% in Central London for the first 6 month period of 2011. Perhaps with an unpredictable market, post-recession, more companies are turning their attention to the flexibility and benefits of serviced space.
Visit our stats and facts resource to find out more about activity in the serviced office market recorded by officebroker.com ΓÇô Serviced Office Review Series