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Cardiff Offices - H2 2015

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Cardiff Offices - H2 2015

Following a steady H1 2015, office take-up in Cardiff increased by 82% in H2 to reach 399,500 sq ft. Of this, a total of 316,000 sq ft was transacted in Q4, the highest level of quarterly take-up on record.

The strong end to the year meant that total take-up for 2015 reached 619,000 sq ft, some 29% above the 10-year average. Significantly, the 2015 total represents an increase of 14% when compared to last year.

Supported by the pre-let of 150,000 sq ft to BBC Wales, Technology, Media and Telecoms firms (TMT) represented the largest share of take-up in both H2 and throughout 2015, at 45% and 32% respectively.

Two lettings above 50,000 sq ft were completed in H2, the first deals above this threshold in more than three years. Aside from the BBC Wales pre-let at Central Square, Public Health Wales agreed a lease for 51,650 sq ft at Number 2 Capital Quarter.

Source : Knight Frank

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