The sausages are back! At last year's Knight Frank Central London breakfast there was much discussion about the absence of said bangers with conclusions naturally being drawn about what it indicated. As it turned out Knight Frank's predictions for the capital's market a year ago were a little bearish with its performance better than anticipated.
And so this year everyone is reading much into the sausages return (and good sausages they were too).
The predictions (EGi subscribers can click here for the full story and video) are good too buoyed by rising take up and rental growth, a return of gazumping and tenants withdrawing surplus space from the market.
London, the packed ballroom at the Dorchester was told, should not be viewed the same as the rest of the country. The rally in the financial markets last year, increasing global trade and emerging markets' interest in using London as a business base have all helped lift the capital's property market say Knight Frank.
Demand will come from the financial sector, TMT's and energy companies
predicts the London agent and with 15m sq ft of lease expiries expected
over the next five years there seems to be bags of opportunities to
shuffle around existing tenants too.
But it would be foolhardy for Knight Frank to say that everything will be rosy and they didn't. If the predicted shortage of office supply in 2011/12 and predicted rental growth gets too many developers tempted the capital could head into oversupply again in 2014 (sound familiar?).
The sausages, and predictions, seemed to go down very well. Lets hope the predictions prove accurate and maybe there will be two sausages on the plate next year.
But it would be foolhardy for Knight Frank to say that everything will be rosy and they didn't. If the predicted shortage of office supply in 2011/12 and predicted rental growth gets too many developers tempted the capital could head into oversupply again in 2014 (sound familiar?).
The sausages, and predictions, seemed to go down very well. Lets hope the predictions prove accurate and maybe there will be two sausages on the plate next year.
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