In the city of London – boom rent commercial space

A report on commercial real estate of London presented a well-known company of elite real estate Knight Frank. This time the subject of the study was the city of London.

The demand for rental office space in London’s downtown city reached the highest level since 2000, in light of the fact that the city is experiencing demand from non-financial institutions.

The number of newly produced in the arena of office space in the city increased from 2.2 million square feet in the second quarter of 2014 to 3 million ft in the third quarter, the growth was 39%.

This level of demand not seen since 2000 . The number of long-term leases increased by almost twice up to 1.7 million square feet, including transactions with such major companies like Amazon and London Business School.

The demand for office space in London has increased in recent years across London, suggesting robustness in the underlying recovery of the economy.

In city now the total amount of office space has 69 million square feet and in 2012 was 5.8 million feet.

The increase in demand is observed on the part of organizations representing a variety of industries.

The largest tenant is Amazon, which occupied the Principal Place 431000 square feet and occupies 86,000 squares in Leadenhall Court, M&G Investment occupies 330000 square feet in building 10 Fenchurch Avenue, London Business School – 88000 – square-foot building at 40 Tower Hill.

It is expected that in 2015 the demand for office space will continue, so the experts of the commercial real estate market suggest to start looking for commercial space for rent office in the city of London in advance due to the rise of housing shortage.

The number of space to rent in the city of London rent now stands at 8.7 million sq. ft. This is much lower than its maximum level in 2009, when it was proposed to lease 13, 4 million square feet of commercial office space.

Now the share of available office space is at its lowest level since 2007, only 7.3 % of vacant space are available from all areas of commercial office space.

® Helen Entree. 27. 10. 2014.