CENTRAL LONDON OFFICES Q1 2008

Published: April 2008
Source/Company: Colliers CRE

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

• Quarter on quarter take-up increased across Central London by 29%, boosted by strong letting activity in the City. Take-up was, however, below the ten year average for the second successive quarter.

• Available space increased for the first time since 2004, and there is currently 1.1 million sq ft of space available in Central London.

• Prime rents remain static in the West End at £115 psf but fell in the City to £62.50 psf.

• There is 13.9 million sq ft of space under construction in Central London. The majority of this is in the City where 8.2 million sq ft is under construction, 85% speculatively.