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Office take-up in central London was up 92% month-on-month in February 2017, totalling nearly 1 million sq ft.
This huge increase was partly due to 17 transactions of over 10,000 sq ft each. These included Freshfields’ pre-let of a vast 255,800 sq ft space at 100 Bishopsgate, and three other transactions of over 100,000 sq ft. The professional services sector represented the largest proportion of take-up, followed by the consumer services and leisure sector.
Eugene O’Sullivan, Managing Director at tenant acquisition specialists Morgan Pryce, says: “There will be a steady take-up of office space throughout the year. The impressive February figures highlight that there is still appetite in the market for larger floor plates. We are entering into a market that favours the occupier, with greater incentives and terms to be agreed – Morgan Pryce has recently completed on deals in both the West End and City, securing excellent financial packages for our clients.”
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.