South Bank office take-up is forecast to double this year to 1.1m sq ft, bolstered by occupier demand from the media industry.
Knight Frank has predicted South Bank take-up will exceed 1.1m sq ft in 2013, compared with 568,000 sq ft last year.
Year-to-date take-up is 700,000 sq ft, and there are around 439,000 sq ft of deals in advanced negotiations.
Knight Frank said increased demand from the media industry has led to a strong performance on the South Bank.
Deals agreed this year include News UK signing a 30-year lease for The Place , the 428,000 sq ft building next to the Shard, SE1.
Stephen Clifton, head of central London offices for Knight Frank, said: “The South Bank has undergone a radical period of change over the past decade and this transformation is set to continue well into the next decade. South Bank is no longer a fringe location in the capital, as it has a tenant base one would associate with a core business district. The polarity of London’s business market is changing.”
joanna.bourke@estatesgazette.com
