Latest News
TweetSubscribe to view these premium stories
Tower letting
Midtown consent
Potential in WC2
Contractor in W6
Refurbishment in EC2
Other Stories
December lettings
27-01-2012
December 2011 office lettings for central London reached 850,000 sq ft. The recent trend of deals migrating to the fringes, slowed this month with 72pc of transactions occuring in the core areas. This brought the yearly total to 8.7 million sq ft in lettings over 5,000 sq ft.
Docklands scheme progress
20-01-2012
Canary Wharf Group has bought ownership of the Wood Wharf Limited Partnership from British Waterways and Ballymore Properties. Canary Wharf Group will now have control of design over the 16.8 acre Wood Wharf mixed use development scheme site, which is immediately adjacent to the Canary Wharf. Wood Wharf will comprise 1.25 million square feet of residential development, 200,000 sq ft of retail, 3.1m sq ft of offices and a 200,000 sq ft hotel with a single outline planning consent in May 2009. Detailed consent was subsequently granted for the three office buildings closest to the Canary Wharf estate totalling 1.5m sq ft net in July 2009.
November lettings surge
15-12-2011
Office lettings in London in November 2011 topped 1 million sq ft for only the third time this year. Helped by large pre-lets to Camden Council and Aon Insurance. The fringe areas almost matched the core, with roughly half a million sq ft each. Professional and financial services companies predominated in November. The average lease term is 8 years. We expect the final year total to be just under 9 million sq ft.
Central London - a Sack Full of Refurbs (Summary)
09-12-2011
CityOffices has just completed its bi-annual survey of the central London office development market. Despite the national economic woes and the virtual stagnation of office construction in UK regional markets, there are now 52 office schemes under construction in central London totaling 8.1m sq ft. In comparison, at the beginning of the year there were 39 schemes underway totaling 7m sq ft.
Subscribe for full details.
October London Office Deals
29-11-2011
October 2011 office lettings in central London proved to be sluggish, with only just over 600,000 sq ft transacted in 36 deals over 5,000 sq ft. This total compares to over a million sq ft in September. The month was underpinned by an 87,000 sq ft letting to Deloitte in the City. Elsewhere, fringe areas saw almost as much activity as the core and lettings of Grade A space dropped.
Victoria scheme letting
25-11-2011
Group 4 Security (G4S) division, has signed to take 567 sq m (6,105 sq ft) of offices on the 8th floor at the recently-completed 'The Peak' office scheme at 331-333 Vauxhall Bridge Road, London, SW1. CB Richard Ellis was the letting agent.
Leadenhall pre-let
18-11-2011
Aon, the risk management company, has confirmed its pre-let of 191,000 sq ft of new offices at 122 Leadenhall Street, EC3 - aka the 'Cheesegrater' building. Aon will take floors 4-13, comprising one third of the 610,000 sq ft skyscraper, upon completion of the 47-storey building in 2014. Initially set for completion in the third quarter of 2014, construction company Laing O'Rourke has now cut its building schedule by a few months to bring the completion date forwards to the second quarter. The Richard Rogers designed is being developed as part of a joint partnership between British Land and Oxford Properties.
HQ pre-let in NW1
28-10-2011
Debenhams, the retailer, has agreed a pre-let of 13,471 sq m (145,000 sq ft) at British Land’s Regent's Place North East Quadrant scheme, London, NW1. The retailer will move on completion of the scheme in summer 2013. Debenhams will occupy the ground to fourth floors of the development at 10 Brock Street for a term of 25 years, with break options.
September take-up rises
25-10-2011
London office lettings reached the magic 1 million sq ft mark in September 2011, including 160,000 sq ft of new Grade A space. Figures from Cityoffices show a healthy 71 deals over 5,000 sq ft were signed, with the City accounting for almost half the total. Analysis shows tenants are still more likely to sign for cheaper fringe or Midtown space, with over half the floorspace let in these areas.
UK's tallest crane
10-10-2011
The UK's tallest crane is now in place over the Shard in London, SE1. The crane will reach 317m (1,040 ft) above ground level and will enable the building modules making up the 23-storey steel 'spire' to be put in place.
London Office Market – Special Report - Summary
07-10-2011
CityOffices has produced a special report on the prospects for the London office market. The report, available free of charge to subscribers, looks at the number of new office requirements being launched into the market in 2011 compared with 2010 (with examples), and sets this in the context of future lease expiries in 2012 and 2013. The report also looks at the trends in the London office construction market and picks out the areas which are likely to see most growth in the next two years. Highlights include:
- 342 office requirements in first half of this year representing 9m sq ft of office demand
- Potential 7m sq ft of leases expiring in next two years
- 7.3m sq ft of Grade A central London office space currently under construction and available in Sep 2011
- Overall 17.2m sq ft of office space available for letting in the next three and a half years
August take-up rebounds
29-09-2011
Central London office take-up in August 2011 reached 802,000 sq ft, according to latest figures from Cityoffices. This total was a modest improvement on the slightly subdued months of June and July, but was underpinned by a 275,000 sq ft letting to EMA in Docklands. Figures refer to deals of 5,000 sq ft and over only.
Heron Tower deal
24-09-2011
Bank Snoras, the foreign bank, has taken 1,205 sq m (12,969 sq ft) on the 20th floor of the newly-completed Heron Tower at 106-126 Bishopsgate, London, EC2. The rent is thought to be around £55 per sq ft. Mellersh & Harding advised.
Docklands pre-let
16-09-2011
The European Medicines Evaluation Agency (EMEA) is to pre-let of 23,226 sq m (250,000 sq ft) at 25 Churchill Square, Canary Wharf, London, E14. The EMEA is expected to occupy the promenade, ground and first nine floors of the 20 storey office in 2014/2015. EMEA is thought to have agreed a rent of £46.50 on a 25 year lease with no breaks starting in January 2015. The agency is reported to have the option of taking an additional four floors of around 2,555 sq m (27,500 sq ft) each. A 37 month rent free period has been agreed which will be used to pay for the building’s fit-out.
Attorney signs for EC1 scheme
02-09-2011
Venner Shipley, the patent and trade mark attorney, is taking 1,611 sq m (17,346 sq ft) of offices on the 8th floor at the newly completed 200 Aldersgate office scheme in London, EC1. Lease length and rent have been kept confidential.
Contact Us
Site map
Site designed and hosted by Estates Today.
© 2001-2012 Cityoffices.net Ltd. All rights reserved
Copyright Estates Today
© 1999 - 2012