Take-up for London office space grew by 98 per cent in the second quarter of the year, new figures show.
According to a study conducted by NB Real Estate, the amount of office space that was leased during the period from April to June grew to 1.8m sq ft.
This compares with a figure of just 923,000 sq ft during the first three months of the year.
The impressive showing has been interpreted by commercial property experts as a sign that confidence is returning to a sector that has previously been hit hard by the credit crunch.
Peter Trinder, director of NB Real Estate, said: “Many occupiers postponed decisions about property during the last year, but there are now some very attractive deals on the market.
“Landlords and occupiers are now liable for full rates on empty buildings. This is providing an added incentive to get space let and off the market. It is forcing them into doing deals they might otherwise not have done.”
Despite the upturn indicated by the figures, an increase was noted in vacancy rates. This was most marked in the City and in the West End, where the proportion of unoccupied office buildings now stands at 11.3 per cent and 8.4 per cent respectively.