Partner Article

Improving office take-up

Knight Frank’s latest Regional Office Markets update has now been published, providing an overview of market activity during the past quarter.

It shows that take-up across the 10 regional cities* amounted to 1.5m sq ft in Q1 2016, 7% above the 10-year quarterly average. The highest take-up of Q1 was in Glasgow with 291,200 sq ft let during the quarter. This total is more than double the 10-year average for the city.

Grade A availability fell to 2.2m sq ft, 22% below the 5-year average.

Investment volumes reached £1.1bn in Q1 2016, 43% above the 10-year average. This is the third quarter in succession where total investment sales have exceeded £1bn. Overseas buyers accounted for 62% of turnover in Q1 2016, the highest percentage for 10 years.

*Aberdeen, Edinburgh, Glasgow, Newcastle, Leeds, Manchester, Sheffield, Birmingham, Bristol and Cardiff. ends

This was posted in Bdaily's Members' News section by Knight Frank .