London November Office Take-up

Central London office take-up in November 2013 reached 1,040,000 sq ft (deals of 5,000 sq ft or more). This brings the 2013 year to date total to nearly 10.7m sq ft in 500 deals, which is a 20% rise on the same point in 2012, according to research by http://www.cityoffices.net.

The November total was boosted by the 200,000 sq ft letting to Ernst & Young at 25 Churchill Place in Docklands. Lease terms continue to average ten years, with a break option in year five. Rents averaged just under £45 psf.

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