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Morgan Pryce looks at the Demand for London Office Space

11th July 2011

Morgan Pryce looks at the Demand for London Office Space

With Landlords building in the capital again and with Land Securities adding 1.4million sq ft to the office stock in London, the big question is: where are all the tenants going to come from?

For landlords to realise their hopes of rental increases the economy must improve. We could be heading for a short lived recovery as the sheer amount of space aiming to be delivered will have a dampening effect.

The Olympics is clearly a great opportunity forLondon, but agents are still feeling the impact of the Royal Wedding in 2011 as well as the late bank holidays, which we have heard has affected the number of viewings, So there are concerns about an Olympic hangover.

There is currently about 12million sq ft of known requirements in London most of which are lease expiry driven. However most of these are not looking to commit in 2011making for a competitive and interesting few months.

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