Insurance sector props up City of London's office market
According to research by commercial property agency NB Real Estate at least 30% of all City of London office lettings in Q4 2009 were to insurance companies
According to research by commercial property agency NB Real Estate at least 30% of all City of London office lettings in Q4 2009 were to insurance companies.
Of the total 860,000 sq ft of office space let in the City, at least 250,000 sq ft were taken up by the insurance sector.
NB Real Estate says that the insurance sector has been taking advantage of the two year collapse in office rents to upgrade to more prestigious offices. Unlike other parts of the financial services sector the insurance
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