The firm’s London Office Crane Survey reported 51 new construction starts in the capital, the highest number since the survey began 20 years ago.
Chris Lewis, Head of Occupier Advisory at Deloitte Real Estate, said: “London is building for business as developers respond to strong occupier demand.
“As these new schemes begin to complete, London’s diverse mix of office tenants can look forward to a greater level of choice.”
Deloitte revealed that construction activity in London has nearly doubled over the past 18 months, rising from 7.7m sq ft in late 2014 to approximately 14m sq ft today.
The City of London saw the greatest share of the new builds with 26 offices.
Despite this the Midtown market saw the greatest rise in development activity, growing 58% in six months.
Midtown’s nine new offices will collectively provide 1.2m sq ft of space, and represent the highest number of new starts in that area since the survey began.
However, these offices will not go to waste, as 42% of space currently under construction has already been let.
Chris explained that financial and technology and media and telecoms firms were driving this growth in office space, having signed for 2.3m sq ft and 2.2m sq ft of space respectively.
“With five years of previously low construction levels limiting businesses’ choice of space, pre-completion lettings are on the rise,” he added.
“Rapid advances in technology, combined with a new generation entering the workforce, and changing business structures mean that the way in which offices are used will continue to change.”
“Businesses will increasingly seek providers who can offer real estate as a service.”
Deloitte’s London Office Crane Survey is updated every six months, and covers seven London office markets, including Docklands, King’s Cross and the West End.



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