Canary Wharf has the fastest growing office rental market in central London, according to figures from Cluttons.
The estate outperformed Mayfair and St James’ with a 26.7% rental growth between the first quarter of 2015 and 2016.
Real estate firm Cluttons believes the most notable deal was Thomson Reuters moving into Canada Square and the area now has a vacany rate of 5.1%.
Cluttons head of research Faisal Durrani said: “It was only a matter of time before the area began to draw in occupiers, particularly from the City and City fringes.
“It’s a market that has undersold itself and its full potential is yet to be realised but we may be approaching a significant turning point in its attractiveness.
“In recent months, the central London market has experienced Brexit nervousness and general settling of the market but Canary Wharf has bucked this trend.”
Cluttons research shows central London take up in the first quarter of 2016 was just below the previous quarter.
However the vacancy rate throughout prime central London was 4.4%, close to an all-time low.
An area defined as the Eastern City Fringe saw a growth of 22.2%, Old Street and Shoreditch growth of 10% and South Quay 7.7%.
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