Publications

Research - NOVEMBER 10, 2015

To read this full article you need to be subscribed to Newsline.

Sign in Start Your Free Trial Now View Purchase Options

London office construction hits seven-year high

by Andrea Waitrovich

Office construction in London is up by 18 percent over the past six months, the second successive rise since 2013, according to Deloitte Real Estate’s latest Crane Survey.

There were 26 new starts in the period totaling 3 million square feet and taking total space under construction in central London to 11 million square feet. However, despite a surge in activity, this is still half the amount of space under construction at the previous peak in 2002 (19.5 million square feet) and comes at a time when vacancy rates in the capital are at a 15-year low.

The City and West End account for 73 percent of the total volume of construction. The City office market was the leader with 13 new buildings, including Brookfield’s 100 Bishopsgate. Overall, construction activity in the City rose by a quarter to 5.7 million square feet. And there were four new starts in the West

Glossary, videos, podcasts, research in the Resource Center

Forgot your username or password?

Close your account?

Your account will be closed and all data will be permanently deleted and cannot be recovered. Are you sure?

We respect your privacy! Please give consent for processing data as described in our Privacy Policy