Office Relocations Planned in August

Metropolis ran 645 business leads on ‘office movers’ in the month of August 2017. If all reported moves were added together the total would exceed 17 million sq ft of office searches and transactions, researched by Metropolis’ unique market led intelligence research team. London was the largest region with 284 leads during month, but there were also strong showings from the South East (62), North West (62), Yorkshire (49) and Scotland (42). IT services, professional and financial were the largest business sectors planning relocations or agreeing moves during the month.

The business leads covered the whole UK and provided details of the size of the office occupier, its likely move dates, a description of the reasons for the move, its business sector and full contact details including an address for written inquiries, at least one telephone number and in most cases an email address. Some of the largest planned moves and top picks amongst the 580 July leads, included those on Deutsche Bank, EBRD, Medicines and Healthcare Agency and TK Maxx.

The August 2017 leads included 214 ‘identified requirements’. Which means that the company confirmed to researchers that it has current or future plans to search for alternative office space. Of these 214 searches, 130 were new office searches, not previously notified to clients.

The most recent research also included 161 ‘potential movers’ which were mainly longer-term leads on occupiers, considering a relocation, but have yet to make a final decision on whether to search.

Most of the remaining stories covered companies that have signed for new office space and have set a move date, including some large pre-lets and companies inviting tenders for fit-out contracts. The shortest planned move date is just over a month away, whilst the longest was late 2020.

If you would like some information on flexible Metropolis subscription packages, then please email Simon at simon@metroinfo.co.uk

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Cityoffices.net, the sister property leads service to Metropolis, saw a further 25 stories posted in August, covering new development opportunities planning applications, consents, construction starts and development teams in London and major cities. The database now covers over 200 office schemes in the pipeline for construction starts in 2017-2020.

For more information on Cityoffices, email Andy at andy@metroinfo.co.uk

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Top June picks on Metropolis

Metropolis ran 650 ‘movers‘ in the month of June 2017. If all reported moves were added together the total would exceed 17 million sq ft of office searches and transactions, researched by Metropolis’ unique market led intelligence research team. London was the largest region with 295 leads during month, but there were also strong showings from the Yorkshire (77), South East (57) and North West (44). IT services and financial were the two largest business sectors planning relocations or agreeing moves during the month.

The business leads covered the whole UK and provided details of the size of the office occupier, its likely move dates, a description of the reasons for the move, its business sector and full contact details including an address for written inquiries, at least one telephone number and in most cases an email address. Some of the largest planned moves and top picks amongst the 650 leads included leads were those on Google, Global Switch, Dentsu Aegis and WeWork.

The June 2017 leads included 196 ‘identified requirements’. Which means that the company confirmed to researchers that it has current or future plans to search for alternative office space. Of these 196 searches, 100 were new office searches, not previously notified.

The most recent research also included 200 ‘potential movers’ which were mainly longer-term leads on occupiers which are considering a relocation, but have yet to make a final decision on whether to search.

Most of the remaining stories covered companies that have signed for new office space and have set a move date, including some large pre-lets and companies inviting tenders for fit-out contracts. The shortest planned move date is just over a month away, whilst the longest was mid 2020.

If you would like some information on flexible Metropolis subscription packages, then please email Simon at simon@metroinfo.co.uk

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Cityoffices.net, the sister property leads service to Metropolis, saw a further 32 stories posted in June, covering new development opportunities planning applications, consents, construction starts and development teams in London and major cities. The database now covers over 200 office schemes in the pipeline for construction starts in 2017-2020.

For more information on Cityoffices, email Andy at andy@metroinfo.co.uk

Metropolis April Round-Up

Metropolis ran 600 ‘movers’ in the month of April 2017. If all moves were added together the total would exceed 16 million sq ft of office transactions, researched by Metropolis’ unique market led intelligence team. London was the largest region with 286 leads during month, but there were also strong showings from the South East, West Midlands and Yorkshire. Financial services and professional were the two largest business sectors planning relocations.

The business leads covered the whole UK and provided details of the size of the office occupier, its likely move dates, a description of the reasons for the move, its business sector and full contact details including an address for written inquiries, at least one telephone number and in most cases an email address. Some of the largest planned moves amongst the 600 leads included leads on Sungard, Amazon, Royal Bank of Canada and HMRC.

The April 2017 leads included 175 ‘identified requirements’. Which means that the company confirmed to researchers that it has current or future plans to search for alternative office space. Of these 175 searches, 121 were new office searches, not previously notified.

The most recent research also included 184 ‘potential movers’ which were mainly longer-term leads on occupiers which are considering a relocation, but have yet to make a final decision on whether to search.

Most of the remaining stories covered companies that have signed for new office space and have set a move date, including some large pre-lets and companies inviting tenders for fit-out contracts. The shortest planned move date is just over a month away, whilst the longest was mid 2020.

If you would like some information on flexible Metropolis subscription packages, then please email Simon at simon@metroinfo.co.uk

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Cityoffices.net, the sister property leads service to Metropolis, saw a further 25 stories posted in April covering new development opportunities planning applications, consents, construction starts and development teams. The database now covers over 200 office schemes in the pipeline for construction starts in 2017-2020.

For more information on Cityoffices, email Andy at andy@metroinfo.co.uk

January Round Up

Metropolis ran 583 ‘movers’ in the month of January 2017, which if all moves were added together would account for 3.2 million sq ft of office transactions, researched by Metropolis’ unique market led intelligence team. London was the largest region with 270 leads, but there were also strong showings from the South East, Scotland and Yorkshire

The business leads covered the whole UK and provided details of the size of the office occupier, its likely move dates, a description of the reasons for the move, its business sector and full contact details including an address for written inquiries, at least one telephone number and in most cases an email address.

The January 2017 leads included 158 ‘identified requirements’. Which means that the company confirmed to researchers that it has current or future plans to search for alternative office space. Of these 158 searches, 105 were new office occupiers, not run on the database before.

This month’s batch also included 150 ‘potential movers’ which mainly described conversations with occupiers which are considering a relocation, but have yet to make a final decision on whether to search.

Most of the remaining stories covered companies that have signed for new office space and have set a move date, including some large pre-lets and companies inviting tenders for fit-out contracts. The shortest move date is just over a month away, whilst the longest was January 2020.

If you would like some information on flexible Metropolis subscription packages, then please email Simon at simon@metroinfo.co.uk

—————————————————————————————————————————————————————————-

Cityoffices.net, the sister property leads service to Metropolis, saw a further 25 stories posted this month covering new development opportunities planning applications, consents, construction starts and development teams. The database now covers over 200 office schemes in the pipeline for construction starts in 2017-2020.

For more information on Cityoffices, email Andy at andy@metroinfo.co.uk

Best Year Yet!

Metropolis broke its own lead number record in 2016, with an exceptional 7120 business leads published between 1st January 2016 and the 31st December 2016.

  • There were nearly 4,900 (69%) new stories on planned moves or projects by companies, not previously run in 2015 or before;
  • The new moves and projects reported in 2016 reached a staggering 135m sq ft, if all were added together;
  • This total includes 1,400 newly identified requirements (nearly 30 each week), as researchers uncovered previously unpublished searches for 22.7m sq ft of office space in 2016;
  • Metropolis identified a further newly researched 1500 companies, occupying 35m sq ft, which are approaching property decisions, potential movers, in 2017 and 2018;
  • A further 1,800 newly researched companies confirmed space had been found and a move date set ranging from 5 weeks to two years away;
  • In addition, a further 2,220 companies updated Metropolis that either a potential search had moved to an active one, or an active search had resulted in a property found and move was being planned.

Overall the regions with most reported office movers and projects were:

London – 3200 (45%)
South East – 831 (12%)
North West – 565 (8%)
Yorkshire – 444 (6%)
Scotland – 438 (6%)

Overall the sectors with the most reported office movers and projects were:

Financial – 712 (10%)
Professional (law, consultant, accountant) – 680 (10%)
Media 664 (9%)
Business Services – 569 (8%)
IT-related – 500 (7%)

In terms of timescale, move dates for relocations completed and future were:

2016 moves now completed – 2,500 (35%)
2017 moves planned – 3,287 (46%)
2018 or later moves planned -1,333 (19%)

NB – All statistics refer to business leads run in 2016 and there remains a considerable number of additional projected moves on the database from 2015 and before, where no significant update was possible in 2016.

Metropolis Movers Review of 2015

On the last day of 2015 Metropolis looks back on the year and some of the most notable of the 6,000 + office moves and business opportunities we researched during the year.

Financial Conduct Authority‘s pre-let of 425,000 sq ft of offices at Lend Lease’s International Quarter in Stratford, London, E15 was the largest deal of the year and the requirement was first tipped by Metropolis in autumn 2013.

Ashurst, the law firm, pre-let the 275,000 sq ft Fruit and Wool Exchange Building in the City of London in July 2015. Metropolis has been reporting on Ashurst’s plans since early 2013.

Royal Bank of Canada took 250,000 sq ft at the planned 100 Bishopsgate scheme in November 2015, however Metropolis has been writing about its requirement for up to two years prior to the deal.

DLA Piper signed for 140,000 at a refurbished Mitre House in London, EC2 in summer 2015. However Metropolis has been tracking DLA Piper’s requirement since June 2013.

Bouygues signed for 72,000 sq ft at Becket House, Lambeth Palace Road, London, SE1 in December 2015 after a search which Metropolis has been updating clients on since mid-2011.

KPMG signed for a 60,000 sq ft move to Sovereign Street in Leeds in a move first tipped by Metropolis in 2011.

Shoosmiths, the law firm, signed a pre-let to take 32,000 sq ft over 2 floors at Allied Londons XYZ Building after a search (often denied by the firm itself) first tipped by Metropolis in early 2013.

BDO LLP, the accountant, signed for 24,000 sq ft in the Snow Hill area of Birmingham in November 2015 after a search that started in early 2014.

Audit Scotland signed for 15,000 sq ft at 2-6 George Street, Edinburgh in November 2015 after a search first tipped by Metropolis in May 2013.

EDF Energy was close to a 70,000 sq ft deal at Finzels Reach, Bristol in December 2015 after a search first reported by Metropolis in January 2013.

As we prepare to research for the next 6000 office movers of 2016 – A Happy and Prosperous New Year to all Metropolis blog readers!

Metropolis Office Requirements – Q3 2014

9.5m sq ft of demand

Our team here at Metropolis researched over 370 UK company office requirements in Q3 2014, representing 9.5m sq ft of office demand.

6m sq ft of this demand was for space in Greater London and 4.9m sq ft was demand for space in central London.

Demand for City of London space continued to be strong during Q3, with 2.4m sq ft required in over 60 planned relocations. Three of the top five largest requirements in the City were searches by technology and media companies. EC2 demand made up 37.5% of the total space required.

1.4m sq ft of demand was identified in the West End of London, split equally between requirements for space in London SW1 and W1. Again three of the top five largest requirements were searches by technology and media companies, with two significant searches by financial service sector companies identified.

Mid Town office demand was largely focused on London WC2, with 100,000 sq ft of the 300,000 sq ft required in this postcode attributed to media sector requirements.

Just over 0.6m sq ft of demand was researched in London’s Southbank, 200,000 sq ft of which was triggered by an energy company’s requirement for additional space in the area.

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Similar to H1 results, the Banking & Finance sector is leading the demand for new UK offices, with 1.4m sq ft of requirements in the UK, just over 0.4m sq ft of which is sought in the City of London.

Requirements from media sector companies represented just over 1m sq ft of demand, a 300,000 sq ft requirement in London W1 significantly boosting this figure. Technology & Telecom sector requirements came a close third with 0.9m sq ft of demand. The law sector accounted for 0.8m sq ft of demand and the insurance sector 0.5m sq ft.

 

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Simon Sluszny October 2014

Copyright Metropolis Property Research Ltd