Central London Offices Q2

Published: June 2008
Source/Company: Colliers International

Abstract:
Key points in the latest Central London report include:

•Quarter on quarter take-up fell by 31%, with a total of 2.1 million sq ft taken-up. This was the lowest total since Q2 2003 and well below the ten year average of 3.1 million sq ft.

•Availability continued to increase but remains historically low. Availability across Central London now stands at 12.4 million sq ft, 11% up on Q1 2008.

•Rental growth in all submarkets has stalled, with prime rents in the West End and City falling to £110 psf and £60 psf respectively.

•There is 13.3 million sq ft under construction, 70% of which is speculative.

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