Q1 London Offices Market Analysis

Theremight be a buzz and sense of excitement around London in 2012 with the Olympicsfast approaching and the Jubilee around the corner, but it does not appear tobe translating into office lettings.  EGi’s London Offices Market Analysisfor Q1 has reported a meagre half a million sq ft of take up in the City Corefor the last quarter – should the figure be similar for the three remainingquarters of the year then the annual total will be well below the five yearaverage of 3.8 million sq ft.  The West End – littered with lettings tohigh-end retailers – faired somewhat better with just under 800,000 sq ft letwhich would put it on course to just about match the five year average.

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With respect to the all important leaguetables, Jones Lang LaSalle sit top of the tree in the overall tablefor the first quarter of the year, followed by DTZ who have started the yearstrongly.  H2SO climbed into the top 10 for the first time since 2010,having disposed on the Savills deal at 33 Margaret Street and also AshdownHouse to Jimmy Choo.  In the sub-markets, CBRE topped City Core andDocklands; Jones Lang LaSalle took the City Fringe and the West End; MonmouthDean finished on top in Midtown; and EA Shaw finished ahead in South Bank. To view the full report, please click here.

About Tom Pilkington

EGi's Head of London Offices Research. Helping you to get to grips with what is happening in the market, using EGi's rich database to investigate what is going on behind those headline figures.

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