Take-up of Central London offices reached 888,551 sq ft in July 2016, dispelling some forecasts that leasing activity would immediately struggle following ongoing economic and political changes, according to research from BNP Paribas Real Estate.
Unusually for the summer period, which is typically slower for leasing activity, July showcases the third highest monthly take-up figure for 2016, resting above the long-term average take-up for July of 875,000 sq ft. This brings total volumes for the year to 6.02m sq ft. The figures come in spite of the European Commission’s latest Economic Sentiment Indicator which showed a drop of 4.4 points in July.
The greatest fall in confidence has been felt by small to medium sized businesses, according to the CBI.
Read more at http://news.costar.co.uk/en/assets/news/2016/August/London-take-up-shows-resilience-/?utm_source=CoStar%20Daily%20News&utm_medium=email&utm_campaign=7434504_%5BCoStar%5D%20Email%20%3A%20Daily%20News%20Bulletin%3A%2015%2F08%2F2016%2015%3A11%3A47&dm_i=UQT,4FCI0,FICC9Q,GAP3H,1