Contact Us 020 7292 4710 020 7292 4710

Welcome to
MORGAN PRYCE’S KNOWLEDGE CENTRE


Our Knowledge Centre combines a unique set of useful tools to assist ALL office movers. Use our moving guides, office space calculator, dynamic rental map and other tools to get an idea of what type of office your company needs. We’ll make sure you get there.
Register for FREE now and get full access.

Enter

City developments reach 7 year high

6th May 2015

City developments reach 7 year high

The first 3 months of 2015 has seen a record amount of space being developed in the square mile, a seven year high for a quarter and more in the first quarter than in 2013 and 2014. After a lull dating back to 2008, City development is on the up. Large scale developments such as the Scalpel and London Wall Place account for 1.4m sq. ft. of new space, whilst groundworks have begun at 100 Bishopsgate. These have boosted development numbers significantly; however there is still a vast lack of available space in the current market. Availability in the City is currently at 7% and whilst this is better than other London markets, it is still at its lowest since 2008. 

Teresa Beatty, Surveyor at tenant acquisition specialist Morgan Pryce, believes the lack of availability in the City shows the tightening of all London markets, 

“We have seen West End, Midtown and especially SE1 markets tighten over the last few months, all resulting in rental levels increasing. However, City availability is also floating around the 7% mark – extremely low for an area that has always had a high turnover of available space. This has also impacted on rental levels, with highs reached in landmark buildings. The proposed new developments will help to ease availability issues; however they are not expected to be until a few years’ time. It will be interesting to see how the market reacts over the coming months.”

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.

 

Login and get FULL AND FREE ACCESS to our unique Knowledge Centre.

Please note that we will not share your information with any third parties.

Forgot your password?

Please enter the email address used to create your account and follow the instructions to recover your password.

Didn’t receive an email? Check your spam inbox!

Create Your Account

Instructions have been sent to

Well Done!

Please check your inbox for a confirmation email.
You can manage your account details, email alerts and shortlists directly from your account.

or continue browsing

Loading...

Thank you for confirming your email address! You are now subscribed to our Newsletters.

By continuing your browsing on this site, you agree to the use of cookies used to perform visit statistics.

Accept