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City of London’s Office Demand Reaches 14-Year High

Demand for offices in the City of London business district reached the highest level in 14 years as companies outside the financial-services industry competed for space.

Office take-up rose to 3 million square feet (280,000 square meters) in the third quarter from 2.2 million square feet in the prior three months, broker Knight Frank LLP said in a statement today. The level is almost double the long-term average of 1.7 million square feet, it said.