Requirements on the Rise?
March 3, 2018 Leave a comment
Over the first two months Metropolis Property Research has noticed a small rise in the numbers of office occupiers launching new searches for office accommodation.
Some examples researched and published over the past week include:
- An IT support firm, has told Metropolis that it is currently searching for around 200 sq m (2,200 sq ft) of office space within the South Bank area of London. The firm is planning to move from its current base in the Autumn of 2018;
- A City of London-based energy consultancy, has told Metropolis that it has appointed an un-named property agent to advise on relocation or lease options in central London, ahead of a late 2018 lease break option. The company currently occupies 465 sq m (5,010 sq ft) of offices with about 35 staff;
- A computer consultancy firm, has told Metropolis that it is currently searching for around 475 sq m (5,100 sq ft) of office space in the Maidenhead area. Staff advise that a move date has not been set, but that it will likely take place around Autumn 2018.;
- An energy exploration company, has strongly hinted that it is considering launching a search for alternative London West End offices in 2018;
- An IT consultancy firm, has told Metropolis that it is currently searching for around 220 sq m (2,400 sq ft) of office space in Bristol. A senior contact has stated that an ideal move date would be around October or November 2018;
- A Leeds headquartered print management company, is planning to open an office in London by 2020;
Metropolis researches around 140 new office requirements each month in the UK, plus hundred of other companies pondering move decisions and agreeing lettings.
Metropolis Office Movers in March 2018
April 19, 2018 Leave a comment
Metropolis ran 621 business leads on ‘office movers’ in March 2018. If all reported moves were added together the total would exceed 20 million sq ft of office searches and transactions, researched by Metropolis’ unique market led intelligence research team. London was the largest region with 275 business leads during month, but there were also strong showings from the South East (72), North West (44), Yorkshire (43) and Scotland (26) . Financials services 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, company 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 621 March leads, included those on occupiers Bank of America, Cleveland Clinic, BT, Morgan Stanley and PWC.
The March 2018 leads included 160 ‘identified requirements’, including 81 in London. Which means that the company confirmed to researchers that it has current or future plans to search for alternative office space. Of these 156 searches, 102 were new office searches, not previously notified to clients.
The most recent research also included 198 ‘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 just 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 tender opportunities on the database in recent months, exceeded £1bn of business.
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Filed under Market Comment, Metropolis Market Reports Tagged with leads, London, movers, office blog, office demand, relocation, requirements, searches, south east, sq ft, take-up, Yorkshire