John Griffiths from property consultants GBR Phoenix Beard, chairman of BOMF
, said it was encouraging.
BOMF predicts that the shortage will be triggered by a number of coinciding lease expiries and break events, leaving exceedingly limited capacity for those businesses looking to move in 2014-16.
This lead-in will have a definite impact on the immediate decision-making process for major occupiers, according to BOMF.
The launch event at Opus also saw Drivers Jonas Deloitte's Philippa Pickavance hand over the chairmanship of BOMF
to Jones Lang Lasalle's Jan Thompson who paid tribute to his predecessor for steering the group through the challenging economic period.
What's even more impressive, however, is that over the last 12 months transactions have breached the 1 million sq ft mark for the first time since the BOMF
stats have been produced (2007).