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London office demand surges amid “Manhattanisation” of market

Posted by: In: Real Estate 29 Oct 2014 Comments: 0 Tags: , , , , , , , , , , ,

Demand for offices in the City of London has hit a 14 year high, according to Knight Frank, as firms from outside the finance sector compete for space.

Take-up in the City jumped from 2.2 million square feet in the second quarter of 2014 to 3 million in Q3, a rise of 39 per cent and the highest level since the same period in 2000.

“I see this as evidence of the Manhattan-isation of the City office market, where finance is now one of several sources of office demand now the square mile’s economy has drawn in a variety of new industries, as is the case in New York’s key office markets,” says Dan Gaunt, head of City Agency at Knight Frank.

UK, Commercial Property

Source: The Movechannel


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