Tuckermans reckon that the Victoria office market is now at its most buoyant for 10 years and that there is “a very bullish market” for most offices.
According to the firm’s latest survey, there is 567,000 sq ft available in Victoria, roughly defined as the triangle bounded by St James’s Park to the north, the Thames to the east and south and Belgrave Road/Grosvenor Place to the west. This compares with 865,000 sq ft six months ago and 1.35m sq ft 18 months ago.
Tuckermans put the recent improvement down to increased take-up from government and local authority bodies. However, they also add a cautionary note in that 300,000 sq ft is coming on stream next year with more than 700,000 sq ft due in 1988-89.
