Activity in Central London has increased dramatically in the third quarter of 2004 with the highest quarterly take-up for over two years. Just released figures from Cushman & Wakefield Healey & Baker (C&W/H&B) show that a strong performance from the West End market has driven this increase with take-up this quarter double that of the second quarter 2004.
Although this is certainly encouraging news, when placed against historical averages, the figures are still well below healthy market levels. While a full market recovery may not have emerged yet, the third quarter results suggest it is gradually on the way.
One key indication that the improved market sentiment from last quarter is beginning to materialize in actualized activity, is the improved take-up level. Q3 2004 take-up stands at 2,285,230 sq ft