Central London hits record level of ‘overflow’ office lettings

London

Central London net office take-up rose to 8.9m sq ft in 2017 as occupiers leased a record volume of ‘overflow’ or expansion space.

Companies taking new leases in 2017 increased their total combined space from 5.2m sq ft to 8.9m sq ft, a net take-up of 3.7m sq ft across Central London offices, of which 2.7m sq ft was for expansion space rather than full scale relocations.

Research of all transactions over 5,000 sq ft in central London from Cushman & Wakefield found that 2.1m sq ft of ‘overflow’ transactions were over 10,000 sq ft, slightly higher than the previous peak in 2015.

This content is only available to registered users

You must be logged in to continue

Gated access promo

Would you like to read more?

Try Property Week For Free to finish this article.

Sign up now for the following benefits:

  • Unlimited access to Property Week
  • Breaking news, comment and analysis from industry experts as it happens
  • Choose from our portfolio of email newsletters

To access this article TRY FOR FREE NOW

Don’t want full access? REGISTER NOW to read this article and up to 3 more this month and subscribe to our newsletters.

Registered users and subscribers SIGN IN here to continue