A research produced by
Take-up in February reached 730,000 sq ft, significantly up on January’s performance. This brings 2016 levels to 1.34m sq ft for the first two months of the year, 5% below the same period last year and in-line with the long term average.
The largest transaction of February was Capita’s pre-let of 87,150 sq ft at the Copyright Building, Berners Street, W1. So far this year we have seen five pre-let deals, up on the four in the first two months of last year.
As chronic lack of supply continues, occupiers are forced to look to future supply pipeline to fulfil property requirements. Indeed, the vacancy rate contracted further in February reaching 4.07%.
Source : BNP Paribas Real Estate
