Commercial office fit-out in London
The commercial office fit-out sector could be viewed as a barometer for the property market. And in London, this barometer is telling us that confidence and activity are rising rapidly.
For those companies in the commercial property industry (commercial agents, projects managers, quantity surveyors, fit-out contractors etc) a key report from market leading programme management and construction consultancy, Turner & Townsend Plc. has been published, highlighting the challenges for those procuring fit-out projects; the supply chain being unable to meet the burgeoning demand and the reduction in availability of skilled labour & materials.
Some salient points from this report: -
- Tender price inflation will be around 4% this year, rising to 6.5% by 2016
- Predicted cost increases between 2% and 5% on key construction elements.
- Supply chain engagement is crucial
The full report can be downloaded by clicking here