It's almost official that London is booming! - with nearly 14.8m sq ft of offices being developed across the heart of the capital.
Are we at last at the end of the economic crash?
Construction volume is one of the key indicators how the country is performing and with this latest news form the Deloitte Real Estate’s London Office Crane Survey, it looks like it is performing very well despite the year of resignations (BRexit, the PM, England manager, and so on)
I forecast construction will move east and west over the next 5 years. West to the Heathrow expansion, Old Oak Common (HS2) and to the east; Paramount Park, Crossrail and Bakerloo line extension.
Office construction in central London has hit the highest level since 2008. Development started on 40 office schemes between the start of April and the end of September, adding 2.8m sq ft of space to the heart of the capital. It brings the total amount of office space now being built in central London to 14.8m across 120 projects. That’s 4% more than six months ago. The research was revealed in Deloitte Real Estate’s London Office Crane Survey, which measures the volume of brand new and significant office refurbishments of 10,000 sq ft or more.