Midtown outperforms central London
Midtown is outperforming the rest of the central London leasing market in terms of office take-up, according to the latest research from CBRE.
Take-up soared 34% soared to 500,000 sq ft in the second quarter of the year, helping to maintain leasing levels, which have now been above the 10-year quarterly average of 300,000 sq ft for the past nine months.
Momentum was likely to remain strong in the coming quarters, in part due to a pipeline of 600,000 sq ft under offer, more than twice the long-run average, said CBRE.
Prime rents for the area stand at £60/sq ft, compared with £58.50/sq ft in the City.
Property Week – http://bit.ly/1oivCiH