After diminished take-up in the London office market this year, particularly in the first six months, there is light ahead for developers in the Capital, according to a study from Cushman & Wakefield.
With companies adopting a 'wait-and-see' attitude towards property decisions in 2011, it is expected that the London office market will benefit from some of the resulting pent-up demand next year. When asked about their organization's strategy in 2012, just under half of London companies (49%) described it as one of opportunistic growth and just under one-fifth (17%) will be looking for aggressive growth.
The national survey, carried out by Lighthouse Global amongst 500 of the UK's largest companies, of which 213 have a London head office, shows that businesses are scrutinizing their real estate strategies for ways to use property more efficiently. Over a third (40%) of the London-based companies surveyed have a turnover in excess of