Commercial mortgage holders in London 'to see greater tenant demand' for offices

21 February 2011

Written by David Whittaker

Commercial mortgage holders in London are seeing more people looking to rent offices, it has been claimed.

Richard Kauntze, chief executive officer of the British Council of Offices, explained: "London's future as a global financial capital is strong and healthy, which implies no reason for complacency, but it has a critical mass which is hard to see in other cities on the planet."

The expert said the market for offices had bounced back and was likely to continue growing over the next 12 months.

Although he admitted that the economy remains fragile, he argued London and New York have no real rivals when it comes to financial services and critical mass.

Office owners may be forced to make their real estate greener, as tenants recognise the benefits of an environmentally-friendly workplace, head of climate change for building and energy at Manchester City Council Michael O'Doherty recently said at the Retrofit Salford 2011 event.

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