London office construction rises by 18% in six months

摘要

London office construction has risen by 18% in just six months, with 11.1 million ft~2 now under construction across 77 schemes, according to the latest Deloitte Crane Survey. The annual survey reported 26 new schemes got under way on site over the past six months, adding 3 million ft~2 to the development pipeline. Of the space currently under construction, 4.3 million ft2 is currently let - up 22% from the last survey. Deloitte predicts that just 3.3 million ft~2 will be completed in 2015 - the lowest figure for three years - due to a previous lull in new schemes - and predicts the shortage of grade A office stock will push rental prices up in the short term.