Data and Analysis from CoStar UK

West End Office Market Update
September 2010

CoStar has recorded 144,276 sq ft of take-up so far for August, 59% of which is new/refurbished space. The largest transaction of the month was at 27-37 Wigmore Street, where 16,469 sq ft (1,530 sq m) was taken on the first and third floors. CB Richard Ellis and Edward Charles &Partner represented the landlord.

The total take-up for the West End office market January - August 2010 currently stands at 2,110,227 sq ft (196,556 sq m).

Available space in the West End office market being marketed stands at 5.7 million sq ft (533,733 sq m), 54% of which is secondhand.

Key Points for August 2010:

* 0.1 Million sq ft taken in August 2010.
* 26% of transacted space secondhand.
* Average deal size was 2,753 sq ft.
* Headline rent of £76.00 psf pa achieved.*
* 5.6 million sq ft of space being marketed, 6.5% of which is under construction/refurbishment.
* 0.7 million sq ft is under offer.

Midtown Office Market Update
September 2010

CoStar has so far recorded 47,478 sq ft in take-up for August in the Midtown market, 11% of which is new/refurbished space. The largest letting was at 7-12 Tavistock Square, where 5,020 sq ft (466 sq m) was taken on the fourth floor, James Andrew International represented the landlord.

The total take-up for the Midtown office market January - August 2010 currently stands at 1,366,447 sq ft (127,277 sq m).
Available space being marketed stands at 4.1 million sq ft at the end of August; secondhand space on the market has decreased to 39% of the total.

Key Points for August 2010:

* 47,478 sq ft of space taken in August 2010 recorded so far.
* 86% of transacted space was secondhand.
* Average deal size was 2,373 sq ft.
* Headline rent of £38.70 psf pa achieved.*
* 4.1 million sq ft of space being marketed, 46% of which is new/refurbished.
* 0.5 million sq ft is under offer.

City Office Market Update
September 2010

CoStar has recorded 330,225 sq ft of take-up so far for August, 66% of which was new/refurbished The largest transaction was at One Lothbury, where 70,724 sq ft (6,570 sq ft) was taken, the undisclosed tenant was represented by CB Richard Ellis.

The total take-up for the City office market January - August 2010 currently stands at 5,296,991 sq ft (492,112 sq m). Having seen a decline in available space during Q1 2010, its has since started to rise, with current marketed space totalling 11.5 million sq ft, (1,075,143 sq m) 35% of which is new/refurbished space.

Key Points for August 2010:

* 0.3 million sq ft taken in August 2010.
* 29% of transacted space was secondhand.
* Average deal size was 8,054 sq ft.
* Headline rent of £38.50 psf pa achieved.*
* 11.5 million sq ft of space on market of which 31% is secondhand.
* Million sq ft under offer
* Some rents remain confidential

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