Our quarterly review of the central London office occupier and investment markets

Central London take-up totalled 2.7 million sq ft in Q1 2019, 33% below Q4 2018 but up 7% on the 10-year quarterly average, providing evidence the market continues to weather uncertainty and surpassing expectations for the start of the year.

Q1 saw a lack of larger deals transact in Central London. With the exception of the deal to Sony at S1, Handyside, N1, totalling 133,000 sq ft, no other deals were recorded over 100,000 sq ft. Nevertheless, demand for larger floor plates in developed buildings continues to remain high with a number of key developments receiving prelets including The Cabot, E14, The Brunel Building, W2, 100 Liverpool Street, EC2 and 18-19 Hanover Square, W1.

Availability rose for Q1 2019 to 12.4 million sq ft, 5% up on the 10-year average. The development pipeline comprises 18.0 million sq ft, 15% rise on Q4 2018 construction levels.

Central London investment fell to £2.8 billion for Q1 2019, a 31% decline on the 10-year average but only 11% down on Q1 2018.

Central London Office Analysis Q1 2019

Central London Office Analysis Q4 2018

Central London Office Analysis Q3 2018

Central London Office Analysis Q2 2018

Central London Office Analysis Q1 2018

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