The West End sub-market has seen huge take up in the office sector in the last quarter, totalling over 1.62 million sq ft – a new record. Over 850,000 sq ft was acquired in the area during September alone, bringing the total acquisition for the year so far to 3.99 million sq ft, surpassing the total for 2016 with three months of the year remaining.
Large transactions, including Aegis pre-letting 310,000 sq ft at 1 Triton Square, Spotify acquiring 104,133 sq ft at The Adelphi, and The Boston Consulting Group pre-letting 123,500 sq ft at 80 Charlotte St, have driven the figures into record territory.
Eugene O’Sullivan, Managing Director at tenant representation specialists, Morgan Pryce, believes; “The record take up in Q3 this year shows the availability of stock on offer for tenants looking for office space. This is true across Central London, where vacancy rates are pushing out slightly, improving the market for occupiers looking to acquire new 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.
