London office development up 18% in six months

London office development up 18% in six months

According to an article by Mark Wilding of Property Week, office space under development in central London increased by 18% in the last six months of 2015. The figures from Deloitte Real Estate's London Office Crane Survey found that total space under construction in central London is 11.1m sq ft, spread across 77 projects.

New projects started in the second half of 2015 included the 867,000 sq ft development at 100 Bishopsgate while completions included the 220,000 sq ft Alphabeta building on Finsbury Square. Head of City leasing at Deloitte Real Estate, Steve Johns, commented that: “cranes will be dominating London’s skyline for the foreseeable future as construction activity keeps pace with healthy occupier demand."

According to Deloitte Real Estate, over half of the 11.1m sq ft under construction has already been let and developers’ sentiment remains high with construction up across the City. Media, technology and telecoms companies have been the most active in taking space under construction (44%) followed by the financial sector which took 27% of space.

From our offices in Maidstone and London, Logic PM are perfectly placed to manage your office development project in the city or the south east. Contact us on info@logicpm.co.uk or call us on 0203 397 7444 for advice on taking your project to a successful completion.