European banking mergers will lead to City firms taking more prelets on new office devevlopments, DTZ has predicted. Vacant new offices account for just 1.6% of the total in London’s financial districts, and overall vacancy rates are close to six-year lows. The Times
Despite a background of projected higher UK inflation and the extension of the commercial eviction moratorium, Acuitus raised £22.8m with a success rate of 95% at its June auction.
A judge has ruled that annual rent for a retail unit in Central London should be less than half of what it was in 2011, setting a commercial precedent that could have a significant impact on rents in the prime West End retail market.
CBRE has appointed Lendlease asset manager John Coddington as the head of residential in its property management team.
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