Office demand drives project starts

Office construction is our bright spot for 2016, in response to tight supply both inside and outside of the Capital. 

Glenigan data for 2015 shows a 6% annual decline in the value of office starts which were hit sharply by pre-election nerves. However the value of projects securing planning consent simultaneously rose by 29%.

A lack of development since the crash means there is little space available to rent in cities such as Manchester, Leeds and Birmingham. Investors and developers are now racing to respond to these changing market conditions, and to keep up with further expansion in the Capital. We are forecasting a 50% increase in new project starts in 2016.