Serviced offices in London have seen a marked improvement on last year's performance, despite weak take-up during August, according to CB Richard Ellis's (CBRE) latest Monthly Overview.
Deals for central London offices fell by 58 per cent last month to 0.6m sq ft, the lowest level since July 2009, but those in the West End registered a rise of 54 per cent.
Digby Flower, head of Central London Agency at CBRE, said despite the decrease, take-up for the year to date now exceeds the figure for the whole of 2009.
"This demonstrates the remarkable turnaround in the market during 2010," he remarked.
According to the review, a weak performance was expected for August, which is typically a slow month for leasing.
It added: "Supply continues to tighten, pushing rents upwards."
Investors seeking offices to let may also be interested in recent comments from David Wylie, head of UK economics and forecasting at CBRE, who stated central London offices are showing evidence of income growth.
