Frost Meadowcroft News
Market Update Q4
January 11
In Q4 demand in the ‘west of the West End’ market has improved for the best offices but there remains little demand for secondary offices. The office for national statistics (ONS) reported GDP growth for the third quarter of 2010 at 0.8%, down from the 1.2% of Q2.
The EGi (Estates Gazette Interactive) London office market analysis for Q3 reported better take up than in 2009 but specifically for what it called prime rents. It reported no secondary office growth and stated ‘there is no shortage of secondary property, and no such rise is expected to occur in the secondary market in the medium term.’
As predicted in our Q3 update, letting transactions in west London in Q4 have tended to be led by events such as lease expiries and tenant break clauses rather than through expansion. We expect more of the same in the first quarter of 2011, with best rents for Hammersmith remaining at circa £30 per sq ft.
Download File: 56_Market_Update__NEW_Q4_FINAL.pdf
Other Recent News
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- Market Update Q1 (Apr 12)
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- Market Update Q4 (Jan 12)
- Market Update Q4 (Jan 12)
