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London office rentals defy recession slump

Filed under: News — Tags: CB Richard ellis, Central London, london office rentals, London office space — Kevin @ 9:00 am

Research by CBRE shows that the London office leasing industry is on the rise again.

September recorded the highest figures for London office leasing this year since June.

Central London office leasing activity has taken a step for the better as the amount of transactions across all markets rose for the first time this year in September. Research conducted by commercial agency CB Richard Ellis shows.

This level of activity has pushed office market rent-take up for the third quarter of 2011 to 2.7 million square feet, the highest quarterly total of the year so far.

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New statistics show the London office market has slowed substantially

Filed under: News — Tags: CB Richard ellis, London office space, office space statistics, office space take up in London, Uk Office Space — Lee Kozlowski @ 9:00 am

London office market slows drastically.

CBRE statistics show that the London office market has somewhat stalled.

New research from CB Richard Ellis has shown that the London office market has slowed substantially in recent times. CBRE’s monthly overview for office space in Central London this August showed that the market has been declining since the start of this year. The market has slowed rather a lot since January with July’s office space take up on just reaching 658,000 square feet.

A total number of just four deals above 20,000 square feet were carried out during July which is an astounding -31% below the standard long term trend. Countering this however was a sharp rise in new office space development take ups. That said there was a close to 45% fall in second hand take-up which drove the overall take up percentages down. CBRE focused mainly on office space in the City and the West End where the leasing numbers were 310,800 square foot and 227,200 square foot respectively. (more…)

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CBRE results show increase in London office space leasing

Filed under: Uncategorized — Tags: CB Richard ellis, Central London office space, London office space, office space statistics, Southbank office space, Uk Office Space — Lee Kozlowski @ 3:37 pm

Office space take up in the City of London doubles.

Statistics show that take up of office space in the City of London has doubled.

Recent research from property experts CB Richard Ellis shows that office space take up in Central London doubled during May 2011. Statistically this means there a was a 24% increase in transactions when compared with the figures from last year. Overall there was a total of 777,900 square feet of office space taken up during the month.

However, the rest of London did not see such positive results. Office space within the City of London and Southbank actually saw falls in the amount of commercial office space being taken up. When looked at from a six-month rolling average office take-up remained pretty much static and fell 6% in the City but rose 12% in West End London. (more…)

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York Capital lease London office space

Filed under: News — Tags: 23 Saville Row offices, CB Richard ellis, London office space, Rhone Capital, Tokyo office space, Uk Office Space, West End London office prices, York Capital — Lee Kozlowski @ 8:53 am

London office move for York Capital.

York Capital sign lease for new London offices.

Investment company York Capital has chosen to move its offices to London. The company currently has its offices based in New York and will relocate to Grade A space in 23 Saville Row, Mayfair.

The firm has signed an agreement to lease around 7,600 square feet of office space within the 100,000 square feet building. The rates for the space are approximately £97.50 per square foot, the rest of the office space in the building is being advertised at around £100 per square foot. (more…)

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Government business rates affect London office prices

Filed under: News — Tags: CB Richard ellis, commercial business rates, commercial proeprty developments in the UK, London office space, offices in W1, UK business rates, Uk Office Space — Lee Kozlowski @ 11:32 am

Business rates to affect London office occupiers.

Government rates to have a direct affect on London office space costs.

Property advice specialists CB Richard Ellis have warned that new business rates implemented on 1 April will have an impact on the way that offices are run in the capital.

The firm also noted that the bottom line property costs for office space would mainly affect companies and occupiers in the W1 London postcode.

The rating and taxation team from CB Richard Ellis believe that companies occupying space in W1 have seen an increase of around 40% in rates payments since April last year. (more…)

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Rental growth in city of London set for recovery thanks to increased demand

Filed under: News — Tags: CB Richard ellis, commercial property market in London, Jones Lang LaSalle, London offices, rental growth — Amy Edwards @ 10:52 am

The level of rental growth in city of London offices appears to be on the road to recovery thanks to an increased demand for occupation within the financial sector, according to the latest Global Office Rental Cycle by CB Richard Ellis.

The report, which measures prime rents, vacancy rates and take-up levels across global markets, found that Middle East, Africa and Europe had gained strength in office rental potential.

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Chinese bank plan to take central London office space

Filed under: News — Tags: banking, CB Richard ellis, China, Grade A office space, ICBC, London office space — Amy Edwards @ 11:09 am

The largest bank in China, the Industrial & Commercial Bank of China (ICBC) have announced plans to move into central London office space in 2011.

In a deal advised by property investment firm, CB Richard Ellis, the financial institutions will move into an office building close to the Bank of England London branch.

The office, on 81 King William Street, will be refurbished to a Grade A standard before the move, but once occupied; it will become the new headquarters for ICBC.

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Goldman Sachs building for sale at £300 million

Filed under: News — Tags: CB Richard ellis, Glodman Sachs building for sale, Henderson Global Investors, Itochu, River Court office space, Rivert Court to be sold for £300 million — Javaria @ 9:15 am

Investment bank Goldman Sachs’ River Court building is be put up for sale this week at an asking price of £300 million, according to The Financial Times.

Owned by Irish investors, the space contains an auditorium, gym and restaurants. The 425, 000 square feet London-office-space-building forms the larger part of two Fleet Street edifices that connect together creating the company’s European head office.

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Aldermanbury up for sale

Filed under: News — Tags: 10 Aldermanbury, CB Richard ellis, commercial property, Commerz Real, JP Morgan, knight frank, Legal & General, london, London office space, London offices, Savills, Stanhope — Krista Harrison @ 9:00 am

Commerz Real have instructed Savills to sell its 10 Aldermanbury building in the City of London.

The German fund managing firm are marketing the site for £260 million, representing a 5.5% yield. The building was originally developed by Legal & General and Stanhope, and is let to JP Morgan until 2025. (more…)

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Portfolio of London offices for sale

Filed under: News — Tags: CB Richard ellis, CBRE, commercial property, london, London office space, London offices, recession, simon halabi, skyscrapers, UK commercial property — Krista Harrison @ 10:15 am

A portfolio of eight London office buildings is to be put up for sale by CB Richard Ellis Group Inc.

The buildings belong to entrepreneur Simon Halabi, and are being sold to repay investors part of the £1.15 billion in defaulted bonds which back the buildings. (more…)

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