The Western Corridor office market continued to surprise on the upside in 2019, with H1 take-up increasing for the third successive year.
Politics has been at the forefront of both occupier and investors’ minds through the first half of the year, as the debate rages on over the UK’s departure from the European Union.
Against this background, the Western Corridor leasing market continued to surprise on the upside, and H1 take-up increased for the third successive year. Take-up across the Western Corridor reached just over 1 million sq ft, which was marginally up on last year and 15% ahead of the five-year H1 average.
Robust leasing activity was reflected in a further compression in supply levels across the Western Corridor. The overall vacancy rate stood at 10.0%, which was down from 11.0% a year earlier.
After three consecutive years when Western Corridor investment volumes exceeded £2bn, 2018 saw £1.9bn transacted with a lack of available stock (in particular large business parks) reducing investment volumes.
To read more, download the 2019 Western Corridor office market report below.
The evolution of the South East office market
During our annual presentation, experts on the West London and Thames Valley office market came together to discuss the themes and events that will dominate the market in the year ahead.
You can hear more about the key themes from the presentation in the videos below.
Dominique Gonfard - Tétris UK
Dominique Gonfard, Head of sales and business development at Tétris, discusses their recent fit-out of OakNorth and how we can support landlords in the changing world of flex space and Cat A+
Alex Aitchison - Lincoln Property Company UK
Alex Aitchison, Director of Development for Lincoln Property Company, talks through ongoing and future plans for the Station Hill scheme in Reading's and mixed use developments.