Industry News

Drop in demand for commercial property temporary? July 23, 2010

The fall in demand for commercial property is just "a pause for breath", one specialist has stated.

Head of central London research at Knight Frank James Roberts said a series of large deals have been made over the past few months and the fall is temporary.

"There were above average levels of take-up in the City between quarter three 2009 and quarter one 2010," he added.

Mr Roberts noted a big rental contract would boost confidence, such as the proposal under offer on a possible 700,000 sq ft deal at the Broadgate Centre next to Liverpool Street Station.

The expert's comments follow the release of figures from the Royal Institution of Chartered Surveyors, which revealed 38 per cent more surveyors reported a decrease rather than rise in rental demand for London offices.

According to the report, the respondents reporting a reduction in enquiries means the net balance has fallen to minus ten from plus seven during the first quarter of this year.


© Adfero Ltd

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