London’s office market is benefiting from the economic recovery, according to the capital’s biggest office finder, which today said businesses were expanding at a record rate.
DeVono Property said it had seen a rise of almost 40% in businesses requesting an increase in office space in the 12 months to July compared with a year earlier.
It said City fringes, such as King’s Cross, Clerkenwell and Shoreditch, were among the most in demand locations for businesses looking to expand. Adam Landau, director of DeVono, said the increase in activity was evidence of the economic recovery.
“While certain sectors have enjoyed growth over the course of the recession, such as technology, it’s now across practically all industries,” he said.
“With expected market rental growths, many businesses are future-proofing for the next five years.”