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The West End market has experienced a strong summer, with take up in the sub-market reaching 513,691 sq ft in July 2017, following June’s exceptional 760,000 sq ft take up figure.
With smaller deals dominating the amount of take up, 76% of all transactions this year in the West End have been for acquisitions of less than 10,000 sq ft, and there has been a total of 2.9 million sq ft of transactions carried out for the year so far; a third higher than in 2016, and 37% higher than the long-term average.
Eugene O’Sullivan, Managing Director at tenant representation specialists Morgan Pryce, believes; “The figures show the strength of the market for smaller occupiers. Morgan Pryce has been acquiring space on behalf of the SME market for the last 9 years, and this summer has represented some of the most attractive incentive packages in the West End, and throughout London generally. The market is in an extremely strong position if you are an occupier looking to take up space.”
This news was brought to you by Morgan Pryce, a specialist tenant acquisition agent with offices in Oxford Circus and the City. Morgan Pryce specialises in search, negotiation and project management and works exclusively for tenants.