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London's commercial buildings prime for property owners
14 Nov 2011
Based on the recent Central London property market review from CB Richard Ellis (CBRE), it would appear property owners and investors are still keen to invest in London-based commercial property.
CBRE's report showed that office take-up in Central London rose to 2.7 million square feet during the third quarter of 2011, the strongest performance of the year to date.
All markets managed to post increases in take-up from 2011's second quarter. The largest increase was seen in the City as it strengthened to 0.9 million sq ft. As a knock-on effect, this could see an increase in levels of commercial property insurance also.
Adam Hetherington, managing director of CBRE's Central London branch, said: "While take-up has been generally weak throughout the year, the jump in leasing levels across almost all central London markets over the third quarter has been a positive sign."
London take-up remained below the ten-year average of 2.9 million sq ft and has consistently remained below this average for the last three quarters.
Posted by Michael Brown