Central London office market report for the second quarter of 2023. In this report, we present a summary of key statistics and developments that have influenced the market during this period. For a more detailed analysis, you can access the complete report below.
Office rents and values have begun to slip across the central London commercial property market with some firms nervous about Brexit, a new report suggests.
Post-Brexit, the British commercial real estate sector experienced a period of stress: many managers and insurers had been forced to temporarily close their real estate funds in order to cope with the buybacks of investors. "The three years before the Brexit had been marked by double-digit returns," said Tony Brown, head of investment at M & G Real Estate.
Market conditions are now firmly in the landlords' favour. High levels of take-up and constrained development activity over recent years have seen vacancy rates drop dramatically from their 2009 peaks.
‘Looking ahead to 2015 we expect that total returns will remain in double figures, but that rental growth will make a larger contribution. The recovery in the economy combined with low levels of development means that the balance between demand and supply is now swinging in favour of landlords and we anticipate that rental growth will accelerate,’ explained Owen.
UK agency Belvoir Lettings has appointed franchise expert Kiara Carthy-Barke as manager of the company’s award winning marketing team.
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