MARKET UPDATE Q3 2016

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Welcome to the third update of 2016, giving you an up-to-date view of the office, investment & development market west of the West End. Included in this issue: market supply, current rents, notable office buildings new to the market & co-living developments.

Q3 MARKET SUMMARY

In Q3 take up of office space improved on Q2, possibly due to the initial economic uncertainties of Brexit dissipating, the new leadership of the Government announcing less austerity and an interest rate cut. Apple’s  huge pre-let of 500,000 sq ft at Battersea Power Station illustrates the confidence in the office market south and west of prime West End. Apple  will be the largest office tenant, taking 6 floors of the central Boiler House from 2021 at just under £60 per sq ft. Coincidentally, Pink Floyd who celebrated the iconic power station on the cover of their 1977 LP ‘Animals’…DOWNLOAD TO READ IN FULL

HEADLINES:
THE WORKS LAUNCH – new building

The Works is the former home of the Isokon furniture works. In Q2 the conversion of The Works in Turnham Green Terrace Mews, Chiswick was completed. This property comprises an 8,300 sq ft  loft style self-contained office/studio with exposed roof trusses within high ceilings, roof lights and pendant lighting. The London-based Isokon firm was founded in 1929 to design and construct modernist houses….DOWNLOAD TO READ IN FULL

POLE TO CUBE IN PADDINGTON   proposed development

Renzo Piano, architect of The Shard has slashed 58 storeys from his stalled Paddington Pole skyscraper to create a new proposal for a glass cube-shaped building on the site of the former Royal Mail Sorting Office…. DOWNLOAD TO READ IN FULL

CHISWICK  PICTURE HOUSE – development

A revised application for a mixed-use development at the junction of Chiswick High Road and Chiswick Lane has been submitted this quarter. The scheme will comprise a 5 screen cinema including an ancillary restaurant, a roof terrace and 3 self-contained flats …DOWNLOAD TO READ IN FULL

CO-LIVING – review

Last quarter we described the relatively new concept of co-working within the office sector. This quarter we describe the concept of co-living that is beginning in London within the residential sector.

Co-living is a purpose-built residential property with shared facilities. Most are aimed at young people launching their careers as opposed to students within a halls of residence. The shared facilities may include … DOWNLOAD TO READ IN FULL

 

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