Central London Q4 Report 2007

Published: December 2007
Source/Company: Colliers CRE

Abstract:
Central London Highlights

• Quarter on quarter take-up fell across Central London by 46%. Take-up was
2.3 million sq ft over the last three months of 2007, bringing the annual total to 14.3 million sq ft, 1.4% down on 2006.
• Availability has fallen a further 7% and now stands at 10.6 million sq ft.
• Vacancy rates fell to 5.4%, their lowest since Q3 2001.
• Prime rents remain at £67.50 psf in the City, but West End rents see further growth, increasing 2.6% to £115 psf.
• 556,000 sq ft of space completed in Q4 2007, including 162,000 sq ft at
One Wood Street, EC2. 35% of this space was speculative.