Pre-letting 'will be crucial' for London office space in 2011

Pre-letting is set to be a vital for office space in London this year, according to DTZ

Article posted: 06 Jan 2011

A lack of larger office space in the City of London could lead to a reliance on pre-letting, one property expert has said.

Speaking to the Telegraph, director of the office agency team at property firm DTZ Alistair Brown said pre-letting will increase in popularity as investors look to put cash down on office space in London that has not yet been completed.

"Pre-letting will be crucial not only because there will be a shortage of grade A space, but also because large units suitable for major occupiers are going to be in especially short supply," he explained.

A survey by DTZ found that over the next six months, some 540,000 sq ft of office space in London is set to be completed.

Reuters recently reported that the developers of the capital's Shard building are to begin a hunt for a new anchor tenant to fill its office space this month after Transport for London pulled out.

Posted by Josh Sinyor