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Central London business property 'to be limited this year'
The amount of commercial property space in available in London will be limited during 2010, one expert has predicted.
Head of the London investment team at Cushman & Wakefield Clive Bull said that due to the better-than-expected performance of the sector last year, the coming months will potentially bring a shortage in commercial property for rent.
Noting that the market is "a bit tight" in terms of the grade A real estate that is available, Mr Bull said firms that are looking to move are having to give some serious consideration as to where they relocate, or if they opt to stay in their current building.
"There is not a massive amount of choice for the best space," he remarked, adding: "Everyone knows exactly what buildings are available."
He was commenting after the release of new figures from Jones Lang LaSalle, which showed that while total supply of business property in the capital rose by 71 per cent over the course of 2009, the gain during the final quarter of the year was just two per cent.
Head of the London investment team at Cushman & Wakefield Clive Bull said that due to the better-than-expected performance of the sector last year, the coming months will potentially bring a shortage in commercial property for rent.
Noting that the market is "a bit tight" in terms of the grade A real estate that is available, Mr Bull said firms that are looking to move are having to give some serious consideration as to where they relocate, or if they opt to stay in their current building.
"There is not a massive amount of choice for the best space," he remarked, adding: "Everyone knows exactly what buildings are available."
He was commenting after the release of new figures from Jones Lang LaSalle, which showed that while total supply of business property in the capital rose by 71 per cent over the course of 2009, the gain during the final quarter of the year was just two per cent.
Thu, 21st Jan 2010