PROPERTY NEWS
LONDON OFFICE TAKE-UP POSITIVE
Central London office take-up has seen a positive start to 2012 despite figures being below December levels. With some 840,000 sq ft transacted in January, take-up was 38 per cent higher than the same time last year, according to research by global property adviser CBRE. Docklands saw the largest increase, with take-up jumping from 9,300 sq ft to 90,200 sq ft, boosted by the 74,700 sq ft deal by the Financial Ombudsman Service at 191 Marsh Wall. Office availability in Central London rose marginally in January and now stands at 16.1m sq ft as more secondhand space came back onto the market. Space under offer fell to 1.82m sq ft, the lowest level since June 2009, but active requirements in Central London are well above the long-term trend at 11.19m sq ft. Emma Crawford, executive director, CBRE said: “Space under offer has fallen but requirements are still at a healthy level and we remain optimistic that this will translate into activity in the market.”
SHARD INSPIRATION REPLICA GOES ON DISPLAY
A 30 metre long reproduction of one of Canaletto’s most famous River Thames scenes, said to have provided inspiration for the design of the Shard, has just been unveiled at the newly completed entrance to London Bridge Station. Shard designer Renzo Piano drew inspiration from the shape of the sailboat in the painting, called The Thames on Lord Mayor’s Day. The original painting will be on loan to the National Maritime Museum in Greenwich in April.
US SEES HOME RESALES RISE IN POSITIVE SIGN
US home resales rose to a one and a half year high in January, pushing the supply of properties on the market to the lowest level in almost seven years in a hopeful sign for the housing sector. The National Association of Realtors said existing home sales increased 4.3 per cent to an annual rate of 4.57m units last month, the fastest pace since May 2010. Experts say the improvement is the latest sign the housing market may be coming off the floor.