Some 4m sq ft of office space is under offer in central London, Cushman & Wakefield has calculated.
The space under offer follows 3.2m sq ft of office lettings in the third quarter, meaning year-to-date take-up is 9m sq ft.
The year-to-date figure is 16% ahead of the same point last year, and fast approaching the 10-year annual average of 9.2m sq ft.
Space under offer includes Park House , W1, under offer to Balyasny Asset Management, and British Land’s 10 Portman Square , W1, under offer to Ontario Teachers’ Pension Plan .
Cushman & Wakefield has forecast that the total 2014 take-up figure will be higher than the previous peak in 2007, when 12.6m sq ft was let.
Andy Tyler, Cushman & Wakefield’s head of West End office agency, said: “It is clear that the recovery in the London office market has built up momentum and that activity is being driven not only by churn but by a significant number of companies expanding their London operations.”
joanna.bourke@estatesgazette.com
