Activity in the London office fit out market has returned to its pre-pandemic levels according to the latest survey by Colliers’ Cost Consultancy team.
Alongside our Research & Economics department, the team has compiled its latest report to provide an overview of the London fit out market in the context of how the wider economy is performing.
With leasing activity restarted and office occupation increasing, demand for office refurbishments or wholescale new fit outs is back to the same level at the start of 2020. However, this demand is not without its challenges as supply pressures are impacting on contractors’ ability to deliver projects on time and at a profitable rate.
As part of the twice-yearly survey many of the contractors reported that they’re operating at on average 85 per cent capacity at the moment, and that order books are more than 70 per cent full for this year, with commitments already being made for 2022.
In this report we observe tendering conditions and expected price inflation for projects this year and next.