CBRE Central London Office, November 2017
In this issue:
Take-up falls but under offers remain above average
- Take-up for October 2017 was 0.6m sq ft, 59% below the 10-year average.
- The largest transaction of the month was at The Stage, EC2, where 186,000 sq ft of newly completed space was acquired.
- Availability increased slightly in October, standing at 14.5m sq ft, but remained 2% below the 10-year average of 14.8m sq ft.
- The level of under offers increased by 7% when compared with the previous month to stand at 3.5 sq ft, 25% above the 10-year average.
- A total of 4.8m sq ft of development and refurbishment space has completed so far in 2017, 76% of which is let. A further 1.6m sq ft is expected to complete before the end of the year.