London has not lost its place as a top, global financial centre and demand for office space is still strong.
According to the British Council for Offices (BCO), while the economy is still fragile, the recovery is clearly underway and London is moving ahead of the rest of the UK when it comes to demand for top quality office space.
Richard Kauntze, chief executive officer of the BCO, said: “The office market is already bouncing back, and I think we will see that continue to strengthen and grow.”
“London’s future as a global financial capital is strong and healthy,” he added.
He said that while there was no room for complacency, the financial services sector was already performing will and concluded that demand for offices will “increase as the years go on”.
Recently, Colleen Baldwin, principal of design and business development at Straticom Planning Associates, claimed that as businesses introduce cost-saving measures as a result of the global economic uncertainty, the traditional office looks like it could become obsolete.