Glenny LPP Asserts that Eastern M25 Office Market Shows First Signs of Recovery

BASILDON, U.K. - April 29, 2013 - PRLog -- Maybe, it is too early to proclaim the recovery of the market as graded up levels have not improved significantly yet and there have been false dawns in the past. But prime office rents in the area have now risen to £25.00 per sq ft. And demand for office space in the area has increased significantly with around 900,000 sq ft of requirements. This number reflects the highest level since early 2008. The main demand is primarily focused on the East London and North London&Herts markets. John Bell, the Head of Agency at Glenny adds: “The Eastern M25 region is not noted as being a primary location for many office occupiers but the improved infrastructure and the proposed addition of Crossrail will provide many of the locations in the area with easier access into London and the Thames Valley. Our records show that demand for office floor space took a sharp upturn in the first few months of 2012 and office occupiers are looking at what the area has to offer in terms of office floor space.”    

Industrial property in the Eastern M25 is also reaching its highest level since the boom years of 2007/08 with index of 7.7m sq ft.  Bell says: “The industrial sector has been a major success story in our region over the past few years with take up and demand remaining robust. We currently have an order book in excess of 5m sq ft across our markets and grade A supply is just 1.6m sq ft.”

Glenny LLP's highly-qualified team has worked for all the clients helping them to acquire land for commercial use, design, build, market their premises, etc. since 1892. Now offices of Glenny LLP are located in East London, Essex, North London& Hertfordshire and South East London&Kent. You will be able to find contact details for all of them here: http://www.glenny.co.uk. To find further information or comment on this release, please, contact John Bell on 020 8591 6671 or via j.bell@glenny.co.uk.