West End Office Market Springs Back To Life
Occupier demand for office space in the West End of London currently stands at just over 4.5 m sq ft.
After the traditionally quiet August, together with the Olympics and Paralympics Games, the West End office market jump-started back to life this week with a number of occupiers announcing new searches, most notably Christain Laboutin and an overseas private bank.
Availability of good spec accommodation still remains tight and new development is thin on the ground. There are planned sales of some large assets that have potential for change of use to more valuable residential use, thus bringing stock levels down and pushing rents up further. As a result landlords are achieving their desired rents without too many incentives.
And we are certainly witnessing this strength in demand in the marketing of two of our prime West End office instructions – 1 Maddox Street and 2 Gee’s Court.
