London Full Speed Ahead for Office Take up
According to a new report from CB Richard Ellis Group Inc,
Although the prime city rents in
Head of UK research, Peter Damesick, of CB Richard Ellis stated within the report that office demand within the Central London area is expected to continue to improve throughout 2010, although it will result in a shortage of offices to let London by the year 2011 on into 2012, which should help raise rents as well.
Globally rents and office values started to decline in 2007 and as companies laid off workers and downsized they began to decrease even more sharply forcing banks to report losses that totalled around $1.25m.
The biggest fall was of net effective rents, which reduced by about half since 2007, with rents finally starting to rise again in 2009 after seven consecutive quarters of declines.
According to CB Richard Ellis, Bank of China Ltd., Allianz SE, and Bank of Tokyo-Mitsubishi UFJ Ltd. are some of the major firms, along with a few law firms, that have leased large areas of office space within