Revival in Commercial Property Development

Office Principles can reveal that office refurbishments have increased for the 12th consecutive month. This increase is a reflection on businesses looking to invest in higher performing workplaces for the first time since the pre-recession boom.

Savills Total Commercial Development Activity Index has reported that the level of private sector developments climbed by 2 per cent in February, which is the highest point since 2003. This sudden growth in the number of UK projects is down to a growing optimism among developers and a huge demand for new office space. The head of building and projects at Savills said, “This is not only evident in London and the Southeast, but across every region of the UK.

Large new buildings in London such as ‘The Cheesegrater’ and ‘The Walkie Talkie’ are almost fully pre-let, demonstrating the appetite for premium corporate premises in the Capital.

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