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JLL Big 6 2014

Big 6 Office Market Seminar

​Our increasingly popular "Big 6" research seminar sessions brought together over 160 real estate decision makers in London, all keen to listen to our 2014 predictions for Big 6 UK regional office markets; Bristol, Birmingham, Manchester, Leeds, Glasgow and Edinburgh.

We also recently hosted our inaugural Edinburgh based "Big 6" seminar for Scottish clients which once again examined the outlook for the six city markets with a particular focus on Scotland.

Cameron Stott, office agency director in JLL's Edinburgh office, said: "The prospects for Edinburgh and Glasgow in 2014 are very encouraging. Due to recent levels of ofice take-up in Edinburgh, the vacancy rate at the end of Q1 is down to 6.6%, the lowest in the Big 6. Glasgow has 4 major office developments presently under construction, 3 speculative developments and a pre-let office for Scottish Power's headquarters. We anticipate speculative development to commence in Edinburgh and with Glasgow hosting the Commonwealth Games and the MTV awards and the Independence Referendum in September, there is a great deal happening in Scotland this year."

Overview

  • A revival in the UK economy during 2013 has been mirrored in the Big 6 markets and we predict further growth for all Big 6 cities
  • Investor demand has spread from London to the South East and beyond to the core regional cities
  • We expect yields to become keener over the course of 2014 in light of continued strong competition, increased appetite for risk and stock creation
  • We predict occupier demand will strengthen and further speculative development will occur (2014 - 850,000 sq ft is being delivered across seven schemes)

Report & videos

Coverage from Estates Gazette.

Office Market Outlook

A revival in the UK economy during 2013 has been mirrored inactivity levels across the Big 8 regional office markets

UK Office Market Outlook Q4 2013

Special feature: the legal sector
This year’s seminar included a special feature on the legal sector. Watch commentary from key occupiers above.

 

To find out more about Urban Tendency and its effect on the UK office market please click here