Insurance News Archive

London 2012 could boost office prospects for property owners

The chief executive of the British Council for Offices has suggested to property owners that commercial property, specifically office space, looks set to continue its growth thanks to the upcoming London 2012 Olympics.

Richard Kauntze believes that office space in the capital will grow as a result of the showcasing of London's good transport links and infrastructure. However, he suggested that around the Olympic park itself, office space would still be limited.

He suggested that area in particular would see a growth in retail and sales outlets rather than office space. He also said that the games could have a positive effect on rents, especially once the question of the Olympic Stadium is answered.

Mr Kauntze said: "I think there will be some office legacy round about the Olympic Park, but it is likely to be limited to be honest. I think it is more likely to be leisure and retail around the Olympic Park itself." The BCO is Britain's leading forum for the discussion and debate of issues affecting the office sector.

Posted by Michael Brown

12 Dec 2011