Central London Office Briefing, Q3 2012
Report Authors: GVA
Report Summary:
West End occupier market
During Q3 2012, 791,152 sq ft was let, 88% up on an exceptionally quiet Q2 2012 and 16% up on the five-year quarterly average. Take up for the first three quarters of 2012 is 5.8% down on the same period last year, with a strong fourth quarter required to surpass last year’s total.
City occupier market
Take up for Q3 2012 totalled 1.0 million sq ft, down 25.1% on the previous quarter, and 8.9% down on the five-year quarterly average. Nevertheless, take up for the first three quarters of the year is 8.9% up on the corresponding period in 2011.
Docklands occupier market
Take up for the third quarter of the year totalled 184,768 sq ft, almost three times higher than the previous quarter but 39.6% down on the five-year quarterly average.
Central London investment market
Investment transactions in central London for Q3 2012 totalled £2.8 billion, 27.9% down on the record £3.9 billion measured in Q2 2012, but 24.8% up on the five-year quarterly average of £2.2 billion.
About the Author:
GVA’s award winning Research team provides high quality research and analysis to the business and its clients. Our market commentaries, thought leadership pieces and consultancy advice drive industry debate, distinguish GVA from its competitors, and add value for our clients.
