Commercial property demand increases in London

Posted 28/03/2011

Anyone thinking of purchasing commercial property could consider going for office space in London, new figures have suggested.

Advisory firm Jones Lang LaSalle found that occupier demand for such properties increased by six per cent during the first quarter of the year.

This was a reversal on the trends seen last year and is the first rise since June 2010, meaning that the sector could be picking up following the global economic downturn.

Areas in the West End and the City performed particularly well, with the latter seeing increases in demand of 12 per cent on the last quarter.

Jones Lang LaSalle representative Jonathan Evans said: “As the development pipeline continues to deplete, upward pressure on rents will only get stronger during the rest of the year.”

Earlier this month Ian McBryde, manager of the Isis Property trust, told Fund Strategy magazine that the current economic conditions are making commercial properties all over the UK attractive to investors.