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LONDON BUSINESSES FACE OFFICE SHORTAGE

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Large businesses based in London are finding a shortage of suitable office space, reported Sunday Business (p12). ...
Large businesses based in London are finding a shortage of suitable office space, reported Sunday Business (p12).

Financial services company BAT is profiled as one company that sought offices in central London, yet was told there was nothing available that met its requirements and the only solution was to have a complex purpose-built.

Jones Lang Wootton partner Paul Yearley says there is an imbalance in the market, created by over 50 companies a year wanting offices over 50,000 sq ft in the West End and 48 in the City.

It had moved to a 'developers and landlords market' but occupiers are likely to face a dramatic rise in rent and there are too few developers taking on city projects, the article says.
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