Chinese Banks Seek European Office

LONDON-Office space taken by banks in Europe has been characterized by a continuing influx of Chinese banks and a rise in overall leasing in the six months to end the third quarter, says global real estate adviser Cushman & Wakefield. The total European banking sector office leasing totaled more than 4.5 million square feet, an increase of almost 8% and the highest figure since Q4 2008.

Two of China’s biggest banks – Agricultural Bank of China and China Bank of Communications – made offers on space in London over the last month, Cushman & Wakefield said in a new report. The large majority are taking space in London, although smaller numbers are looking at Milan, Madrid, Paris and the Benelux.