Mon, 21/10/2019 - 12:00
Central London Office Market Update Q3 2019
- Central London take-up in Q3 2019 reached 3.3m sq ft, 8% up on Q2 and marginally ahead (+3%) of the long term quarterly average.
- With bias continuing for top quality space, pre-letting activity has been a major source of demand. The largest deal to complete this quarter was BT Group’s 328,060 sq ft acquisition of the entire building at One Braham, E1.
- Investment volumes in Q3 2019 reached £2.8bn, largely in-line with Q1 and Q2. This pushes up annual volumes to end September to £8.1bn, 43% down on the same period in 2018. UK investors have been the most active purchasers so far this year, accounting for approximately a third of all transactions.
- Encouragingly, Q3 saw a pick-up in activity of deals over £100m, with 10 recorded over the quarter, up on four in Q2.
Associate Director, Research
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