London remains a ‘must have city’ for global portfolios
By Emily Perryman – London is still a “must have” city for global property portfolios despite ongoing political uncertainty, according to Cushman & Wakefield. Preliminary data from the commercial property and real estate consultancy shows the availability of office space in Central London is now at one of its lowest levels since the EU Referendum in 2016.
The vacancy rate of office space in Central London at the end of the second quarter 2019 was 4.5 per cent, compared to 5 per cent last year.
Patrick Scanlon, head of UK offices insight at Cushman & Wakefield, says the main factor driving the decline in vacancy rates has been the “remarkably strong” take-up of office space since the Brexit vote.