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West End sees record ‘under offer’ deals in May 2017

West End sees record ‘under offer’ deals in May 2017
4th July 2017

West End sees record ‘under offer’ deals in May 2017

The West End market saw a huge surge in office space being put under offer in May 2017, reaching a record-breaking 1.4 million sq ft, further increasing the amount of space in the early stages of acquisition in Central London to an impressive 37% above the 10-year average.

Large acquisitions at 21 Moorfields and 2 Southbank Place have increased the total across the capital, however the West End is experiencing vast take-up over a range of size requirements.

Eugene O’Sullivan, Managing Director at tenant representation specialists Morgan Pryce, says; “The take-up in the West End highlights the strength of the market. Take-up in the Central London market is healthy, with a glut of space available across the capital.” 

“The City has seen a vast amount of space coming onto the market, and as such, incentives have pushed out. However, this is also occurring in the West End – and we may see yet more take-up at the tail end of 2017.This year, Morgan Pryce has completed on a number of spaces across the West End, and have negotiated healthy financial and lease term packages.”

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.

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