Demand for high-profile offices is on the increase in London where at the moment the segment is experiencing shortages due to the lack of Grade A office spaces available. But a recent report from the CPA (Construction Products Association) says that things are about to change considerably over the next five years.
Back in May we reported that demand for Grade A offices is high across the UK including London and the construction of such office spaces had dropped considerably over the past year. But this new report from the CPA gave new hopes for the construction industry as a whole.
The report says that in the next five years the building of offices will climb by more than 50 per cent. Growth of high-profile London offices is set to have a positive impact upon the construction industry as well as on indirectly related business such as London office cleaning companies and estate agents.
Commenting on the industry as a whole, CPA economics director Noble Francis stated that output in 2011 will retreat by 0.5 per cent, “followed by a greater fall of 2.8 per cent in 2012. In 2013 output will be broadly flat with just 0.2 per cent growth, before a return to some significant growth of 3.4 per cent in 2014”.
One of the biggest high profile projects waiting to be announced is the new one million sq ft Goldman Sachs offices to be built beside the current London headquarters of Goldman Sachs. A dream come true to any London office cleaning company.
According to Property Week Goldman Sachs has up to 1.5 million sq ft of office spaces in London and it is planning to buy even more spaces like Plumbtree Court which is currently let to PricewaterhouseCoopers and has a market value of £94 million.
This is great news for cleaning companies providing office cleaning services in London. With more offices being built specially these high-profile offices, the cleaning industry will surely benefit from it.