London office space uptake increases by 98%
We’ve learned that uptake of office space in London at the close of Q2 has shot up an enormous 98% over Q1 figures.
Many reports suggest that the uptake is as a result of businesses taking advantage of lower rents in London. However the increase gives a massive boost to the commercial property industry, especially the serviced office space market, and suggests that confidence is returning not just in tenants, but in businesses on the whole.
This could be one more nod towards a growing amount of reports that suggests the UK is nearing the bottom of the cycle, and is now beginning to start its recovery from the recession.
As stated in a report by The Telegraph, Peter Trinder, director of NB Real Estate, said: “Many occupiers postponed decisions about property during the last year, but there are now some very attractive deals on the market. Landlords and occupiers are now liable for full rates on empty buildings. This is providing an added incentive to get space let and off the market.”
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