28 November 2017 - Slowdown in London Office new build continues
The latest data on London Office new build activity shows a continuation in the slowdown of activity. (Source: Construction News)
Whilst undoubtedly there is resilience in the sector away from the City, with the West End in particular still performing strongly, DRS expects the contraction in this important sub sector of the Construction economy to continue well into 2019.
We speak regularly to DRS clients and other entities engaged in the London Office market and the figures are borne out in their response.
Whilst there remains substantial work in progress to cover the 2018 calendar year, new orders are well down and delays in start up ranging from several months to indefinitely are the norm as investors take an increasingly cautious approach to progressing schemes.
The full article is below.