Central London office take-up reached 918,100 sq ft in March, with the West End market accounting for almost half the transactions.
Take-up in March was 60% up on the previous month, bringing the total first quarter figure to 2.3m sq ft. CBRE’s central London offices monthly overview also revealed that the March figure was 5% lower than the same month in 2011.
During March, all central London markets – except for Docklands – saw an increase in take-up.
Availability dipped from the previous month to 16.3m sq ft, while City and West End requirements also dropped slightly to 7.9m sq ft and 3.5m sq ft respectively.
Emma Crawford, executive director at CBRE, said: “March was comfortably the busiest month of the year. An increase in space under offer and sustained levels of active demand, together with signs of a steadily improving economic climate, provide optimism going forward.”
joanna.bourke@estatesgazette.com
