Search
 

South East Office Markets Nears Bottom of Cycle, Says CBRE

LONDON-The end of the office market slump in south-east England could be in site, according to new research from CB Richard Ellis. Take up in the Thames Valley has increased for the first time since 2000.

By Graham Parker | Updated on September 05, 2003

LONDON-A new survey from CB Richard Ellis has identified tentative signs of a recovery in the South-East office market. Office take-up during the first half of 2003 was 40% lower than the long-term average at 2.4 million sf. But there are positive signs from the Thames Valley market.

Take-up in the Thames Valley increased for the first time since the second half of 2000, with total lettings of 1.33 million sf during the first half of 2003, up 9% on the same period last year. Demand is primarily from occupiers taking advantage of depressed rents and attractive incentive packages–including rent free periods of up to 21 months on a 10 year lease–to upgrade their existing accommodation.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.