Metropolis Office Movers October 2017

Metropolis ran 548 business leads on ‘office movers’ in the month of October 2017. If all reported moves were added together the total would exceed 8 million sq ft of office searches and transactions, researched by Metropolis’ unique market led intelligence research team. London was the largest region with 251 leads during month, but there were also strong showings from the South East (60), North West (40) and Scotland (36). 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 548 October leads, included those on Dentsu Aegis, Sumitomo Mitsui Bank, WeWork, Royal London Insurance and Dyson.

The October 2017 leads included 165 ‘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 165 searches, 100 were new office searches, not previously notified to clients.

The most recent research also included 150 ‘potential movers’ which were mainly longer-term leads on occupiers, considering a relocation, but the occupier has 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.

Recent research by Metropolis concluded that a conservative estimate of ‘live’ business opportunities on the database in recent months exceeded £1bn of business.

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, is about to publish its ‘Autumn 2017’ survey on the office construction market in central London, with details of new schemes starting, the dozens of schemes at preparation stage and 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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Central London Office Lettings – October 2015

Central London office lettings registered a subdued 550,000 sq ft of transactions in October 2015, spread across 36 deals during the month.

October was characterised by 9 deals over 20,000 sq ft, including One Avenue Group at Dawson House, 5 Jewry Street, EC3; Ince & Co at Aldgate Tower, E1; Alexander McQueen at 1 Aylesbury Street, EC1 and N1 and Coller Capital at Park House, W1.

Business services topped the table of lettings by sector, helped by the One Avenue deal, followed by professional boosted by Ince & Co and another law firm. Office deals under offer (including Thomson Reuters) fell slightly to 3.7m sq ft.

By area, the City accounted for a little under half the total space at 35pc of the floorspace let in the month. Current London office demand is calculated to be around 5.8m sq ft in the City and 3.8m sq ft in the West End. Availability rose to 10.9m sq ft, helped by completion of a number of schemes in Q4.

The volume of grade A (newly built or refurbished office space) let during the month reached 317,000 sq ft (58% of the total), as transactions for newly developed or refurbished space took a large part of the total.

Metropolis is about to publish a new report on upcoming London office schemes for autumn 2015.