Is the lack of supply in Mayfair and St James’s pushing occupiers into surrounding areas?
Looking at total supply across the West End, last quarter’s supply jumped to a total of £4.3 million square feet of offices. Much of that was because of the construction of speculative schemes producing 590,000 square feet of vacant office space; however, this should be seen in context which shows that this figure amounts to only 4.7% of total stock that is vacant – and this is historically a very low percentage.