Demand outstrips supply
“Modern efficient office space is evaporating”, claims Land Securities Rob Noel in a trading update. He claimed This means that incentives such as 12-month rent-free periods on a five-year lease are unlikely to increase. Edinburgh is also reporting a serious shortage of suitable office accommodation.
Land Securities is presently trying to fill the “Walkie Talkie” in the heart of London’s insurance district
Figures from leading office broker Search Office Space support Noel’s analysis. Recent figures released by the company record a sustained and growing demand for high quality office space in London – both in terms of physical space and virtual offices.