INDUSTRY NEWS

West End office take up jumps

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Take-up in March was 619,000 square foot, the highest monthly figure since September 2007.

The Q1 10 take-up has reached 1m sq ft, double last year’s figure. Under offers stand at 594,000 square foot, 83,000 square foot of which went under offer in March.

Supply fell by 5.4% and now stands at 7.4m square foot, equivalent to a vacancy rate of 6.1%. 46% of supply is of grade A quality.

The largest deal done this year is 117,000 square foot taken by Aegis Group at British Land’s Regent’s Place.

The average grade A rent for the month was £46.70 per square foot, average grade B rent was £44.30 per square foot, and the top rent achieved was £72.50 per square foot.

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