London office market on rise
11 April 2012
The recovery in the London office market is gathering pace with take-up soaring in the last three months.
Property agent Knight Frank today said take-up during the period had increased 80% on the previous quarter to 1.8 million square feet — the most for two years.
Strong demand by Asia Pacific financial groups and insurance companies boosted business.
In the West End, take-up was nearly 50% up to more than 800,000 square feet — the highest for 12 months.
James Roberts, head of central London research at Knight Frank, said: "These figures are better than one would have expected back in the spring, and it looks like the market is now through the worst."
