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Central London Office Market 2008
The market has recorded 144,276 sq ft of take-up so far for August, 59% of which is new/refurbished space. The largest transaction for August was at 27-37 Wigmore Street, where 16,469 sq ft (1,530 sq m) was taken on the first and third floors.The total take-up for the West End office market January-August 2010 currently stands at 2,110,227 sq.ft (196,556 sq.m).
Available space in the West End office market being marketed stands at 5.7 million sq ft (533,733 sq m), 54% of which is secondhand.
Key points for August 2010
- 0.1 million sq.ft taken in August 2010
- 26% of transacted space secondhand
- Average deal size was 2,753 sq ft
- Headline rent of £76 psf pa achieved
- 5.6 million sq ft of space being marketed, 6.5% of which is under construction/refurbishment
- 0.7 million sq ft is under offer