City of London business space take-up at highest since 2007

Published 14th Apr 2010

Take-up of business space in the City of London reached its highest level since 2007 in the first quarter of this year, research from CoStar has shown.

Compared to 2m sq ft leased in Q3 2007, there was 1.9m sq ft of take-up in Q1 2010.

The Q1 2010 figure is 1.5m sq ft higher than the total take-up for the first half of 2009, the research consultancy said.

In the West End the volume of space being marketed fell for the first time since 2007 in the first quarter of 2010.

The West End saw 702,307 sq ft of space taken in Q1 2010, an increase of 32% on the same period in 2009.

Midtown saw take-up fall compared to a bumper quarter at the end of 2009 to 380,829 sq ft.

Source: ' Property Week '

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