Christmas surge in take up of office space

With the pressure of the new near looming, the two weeks before Christmas saw a surge of take-up in office space across London. Occupiers are usually very keen to have their new office organised before starting the new year and make quick decisions before Christmas, and 2016 was no exception.

The landlord Blackstone saw 280,000 sq ft of their offices let in the lead up to the holidays, which is a large percentage of the year’s total lets of 545,000 sq ft.

This foreshadows a very busy January to come, as many occupiers have missed out on options they were considering over the Christmas period and are now feeling the time pressure of the move.

Chartered Surveyor and Morgan Pryce Director Fraser Williams, says: “It is not uncommon for year end to be a deadline for many occupiers. The new year is a great time to look for office space as many buildings are launched on the market and provide new options for occupiers.”

This news was brought to you by Morgan Pryce, a specialist tenant acquisition agent with offices in Oxford Circus and the City. Morgan Pryce specialises in search, negotiation and project management and works exclusively for tenants.