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M25 Vacancies Rise by 50% in 12 Months

LONDON-Take-up in the M25 office markets bounced back in the final quarter of 2001, according to Knight Frank's latest research. But a lack of pre-lettings means availability has risen almost 50% during 2001.

By Graham Parker | Updated on January 30, 2002

LONDON-The final quarter of the year saw a 25% increase in the take-up of office space around the M25 London Orbital Motorway, according to the latest research from Knight Frank. In all, 481,710 sf was leased or sold during the quarter. However, the lack of pre-lettings from quarter 2 onwards resulted in the M25 vacancy rate rising from 3.8% to 5.5% during 2001.

Vacancies are now at their highest level since June 1996. But Catherine Rees, Knight Frank’s Regional Research Manager said: ‘Knight Frank has been commenting for almost four years about the lack of availability within the M25 office market. Liquidity is viewed as a healthy element of the market, allowing immediate requirements to be resolved and ensuring the market does not stagnate.’

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