What’s the real state of London offices? Who are you going to believe?

ByMartin Levy

What’s the real state of London offices? Who are you going to believe?


It seems everyone’s got an agenda to push.

If you listen to Colliers International you’d be hard pressed to disagree there had been a bounce back in take-up for prime central London offices during Q3/17, in fact they say a thumping 3 million sq ft – the fifth consecutive rise and the highest quarterly total in 18 months.

The UK referendum has definitely split opinion though you cannot alter the fact that big deals will skew the numbers – like Deutsche Bank’s 470,000 sq ft pre-let at LandSec’s 21 Moorfields.

But what about the rest of us mere mortals working in 5-15,000 sq ft space and often less ?

Well, I can tell you first hand that landlords are getting pretty anxious – I know this (a) from daily inspection tours where the sheer volume of available space (particularly in the City fringe) means I have been able to secure good quality refurbished space at under £50 per sq ft and (b) from the huge increase in invitations and breakfast launches.

On the flipside, comes news that around 75,000 UK jobs are at risk as 50 international banks are exploring post-Brexit relocation options of which 20 have already commenced the process of applying for a licence according to Daniele Nouy, head of supervision at the European Central Bank.

Frankfurt is the overwhelming favourite which I guess is not surprising as this is home to the ECB !

I can’t totally ignore the statistics but there’s more than one way to go so if you’d like to talk about creating a winning acquisition strategy that will have landlords and building owners competing for your business, call me on 07968 191 233 for a personal perspective on the benefits of transparent, objective and conflict-free representation.

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