London has seen a surge in office building in recent months, as construction companies rush to meet recovering demand for office space.
According to Drivers Jonas Deloitte, there is currently some 6.4 million square feet of office space under construction in London. This represents a rise of 137 per cent from six months ago when the figure was just 2.7 million square feet.
Anthony Duggan, head of research at the company, attributed the rise to a return of positive sentiment among businesses, as conditions in the wider economy continue to improve.
He said: “This survey records a dramatic positive change in construction activity as anticipated in our last report.
“The race is on to deliver schemes to take advantage of the dwindling supply of Grade A space in 2012 and 2013.”
Deloitte also noted that 25 new office construction schemes are currently under way – the largest number its studies have ever recorded.
News of the findings comes as supply shortages push up average rents across the capital, after key projects were abandoned at the peak of the credit crunch.