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South East Offices Snapshot Q3 2019

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south east offices

Key highlights include:

  • Leasing activity this quarter has seen some occupier expansion, although consolidation or 'right-sizing' has been a more prevalent theme.
  • The 'summer slow-down' saw subdued take-up levels at 555,563 sq ft in Q3 across the South East; although, total take-up levels year-to-date remain strong at 2,000,000 sq ft.
  • Supply levels in the South East continue to be eroded as overall vacancy levels are now at just 7.94%.
  • Prime rents remain strong and mostly unchanged across the South East.
  • Q3 2019 witnessed 31 South East office investment transactions totalling approximately £883 million. This is a 78% increase on Q2 volumes. However, 61% of Q3 volumes were attributed to two council-led business park deals.


The key investment trends of Q3 2019 were:
  • 45% of all transactions in the quarter were ‘off market’
  • Long income opportunities with guaranteed rental performance remain keenly sought after
  • Multi-let town centre offices remain top of investors’ shopping lists 
  • There remains a diverse group of buyers in the market with the largest market share attributed to property companies and residential developers at 23%

south east offices snapshot q3 2019

South East Offices Snapshot Q3 2019

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Chris Ward

Associate Director

National Capital Markets

Manchester

Chris joined Colliers International in 2011 after graduating form Salford University with a Masters in Real Estate & Property Management.

Chris worked within the Commercial Lease Consultancy, and Valuation departments prior to joining the National Investment department in January 2015 where he advises clients on the acquisition and disposal of investment property across a number of sectors.

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Guy Grantham

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Guy has been a property research professional for 23 years and gained extensive knowledge of the UK and Global property markets. He has worked closely with a wide variety of major developers, landlords and occupiers in a consultancy capacity. Instrumental in supporting Hines' purchase of Brindleyplace for £200m, on which Colliers advised. He is now specialising in the London Office market using his extensive knowledge and experience to provide market leading insight into current occupier, investment and development trends.

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