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'Cash in on office rents'

NEWS

PROPERTY consultant Drivas Jonas is urging developers to cash in on rising rents over the next two years by starting work on new office deals.

The firm's latest Central London Crane Survey revealed that the amount of space under construction in central London has fallen 33 per cent over the last six months.

Drivas Jonas partner Matthew Elliott said the small number of schemes on site will create a supply bottleneck in 2006, causing rents to rise.

He said: 'With so few new schemes coming on stream after this year and rising tenant confidence, there is a clear opportunity in 2006.But where are the developers?

To benefit they need to start building this year.'