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West End Availability on the Increase

LONDON-The availability of offices in London's West End increased during July and August 2001, according to the latest market commentary from Lambert Smith Hampton. New space is coming to the market although take-up has continued to decline.

By Graham Parker | Updated on October 01, 2001

LONDON-Lambert Smith Hampton’s latest West End office market survey found that 581,000 sf of offices were leased or sold during July and August 2001, down slightly on the previous two months. The latest figures mean that 2.94 million sf has been let in the West End in the first eight months of this year.

Key lettings include Applegate & Collatos taking 36,600 sf in Stratton House, Stratton Street, W1 at £72.50 ($106.60) per sf. And Ericsson has taken a significant part of the 65,000-sf 105 Wigmore Street, W1 at a rent of £67.50 ($99.25) per sf. At 16 St James’s Square, SW1, Boeing is reportedly taking 7,000 sf of space for its UK head office. The company is to pay over £80 ($117) per sf.

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