The take-up of office space in Central London has reached levels last seen in 2007, according to Knight Frank.
Take-up reached 4.6 m sq ft during Q3 2014, a seven-year high and 45 per cent above the long-term average. Indeed, London office supply is now at its lowest level since 2008, totally 14.4 m sq ft, 20 per cent below the long-term average.
The City, in particular, saw levels total over 3.0 m sq ft, a level not seen since 2000. According to Knight Frank’s Central London Quarterly report, the leasing and investment markets across Central London continued to show confident market conditions in Q3, with a strong quarter for the leasing market, in particular.
The largest deal of the quarter was Amazon taking 430,000 sq ft at Principal Place.
Source: The Movechannel