Demand for London Offices Weathering Brexit Uncertainty

Demand for office space in London remained robust through the traditionally quiet first quarter, according to global real estate advisor CBRE.

3.1 million sq. ft. of the capital’s offices was snapped up by companies, despite fears that economic headwinds and the possibility of Brexit could dampen demand.

The 3.1 million sq. ft. is only marginally below the 10 year average of 3.2 million.

Emma Crawford, Head of Central London Leasing, CBRE said: “Between a weak outlook for global economic growth and an upcoming vote on EU membership, businesses have had to contend with a heightened level of uncertainty. That demand for office space had remained so resilient speaks volumes for London’s ongoing attractiveness as a global hub for those companies hoping to lay down roots or expand their footprints in the capital.”