The technology and media sectors accounted for nearly a quarter of the City of London’s office take-up last month, according to Savills.
A total of 376,470 sq ft of City office space was taken up in July, bringing total take-up for 2017 to 3,526,923 sq ft, a 9% increase on the same period last year.
One of the most notable transactions to complete in July saw Withers acquire 57,491 sq ft across levels ground, three and four at 20 Old Bailey, EC4 and Blackstone has already agreed a deal with Barings to take 113,000 sq ft.
Also in July, Kobalt Music acquired 40,356 sq ft at The River Building, EC4 across the second floor. The company has taken the space on confidential terms and now join Deliveroo who signed for the first floor in November last year.
In the year to the end of July, the tech and media sector accounted for the greatest proportion of take-up at 24%. This is followed by the professional services sector at 17%, and the insurance and financial services sector at 12%.
There has been continued strong activity from serviced office providers who have accounted for 8% of take-up to-date.
The research was carried out by Savills as part of the firms monthly City Office Market Watch report.
BQ’s commercial property updates are supported by specialist lender Together, which provides funding to businesses and property investors nationwide. With over forty years’ experience in the financial services industry, Together offers short-term finance, auction finance, buy-to-let, residential and commercial mortgages and secured loans.
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