London office is no longer the most expensive in the world, according to new research.
London office developer Great Portland Estates is aiming to raise £175 million for new acquisitions throughout the capital.
Property is becoming more of a focal point for businesses looking to cut costs in our current economic climate according to Jones Lang LaSalle.
Commercial property chain British Land has delayed construction of a new office space skyscraper dubbed the Cheesegrater.
Colliers CRE’s first half results have revealed losses of £4.49m following a reduction of fee levels compared to an exceptionally good period last year.
The value of Great Portland Estates Plc’s property portfolio dropped by 4% in in the three months leading up to June, as reported by the company on Tuesday.
Office space take-up is expected to drop in the next two years and 13% of offices are set to be empty by 2010, a rise on the current rate of 9.4%.
In the wake of the US subprime housing crisis, London offices have deteriorated faster than any other European property market according to a report by Moody’s Investors Service.
Demand for commercial property fell at the highest rate in the past 6 years in the first quarter of this year, with office space being the worst hit sector,
Investors are increasingly worried about the profitability of their commercial properties and office spaces.
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