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London office space dominated by foreign investors

Filed under: News — Tags: foreign investors dominate London office space market, Jones Lang LaSalle, knight frank, Korea Investment Corp, London office space — Amy Edwards @ 12:16 pm

New research shows foreign investors snapped up the majority of London office space last year.

Overseas maiden investments accounted for a third of the total spend in the London office market in the last 12 months.

Foreign first-time buyers and investors are dominating the London office space market according to new research from the property group Knight Frank.

The figures show that foreign investors and cash-rich first time investors are fighting for a share of the market as they look to acquire stable assets in the current Eurozone crisis. According to Knight Frank, overseas investors making their debut investment in the London office space market accounted for about a third of the £9.1 billion spent in the market last year, while foreign investors accounted for about 60% of the overall investment into the market. (more…)

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Report shows that there is a shortage of serviced office space in London

Filed under: News — Tags: excess of grade C office space, Jones Lang LaSalle, London office space, service office space, shortage of london serviced office space — Beth Hepple @ 3:55 pm

There is a lack of supply of serviced office space in London.

The reports comes after research revealed that there is an excess of grade C supply.

A report concerning the availability of serviced office space in London has shown that there is limited supply within the capital.

SME’s looking to move into office space in London are set to be left peeved by the lack of serviced business centres available to them. (more…)

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London offices could face 2012 difficulty as leases expire

Filed under: News — Tags: Central London office space, difficulty due to lease expiration in 2012, Jones Lang LaSalle, office space in the City, office space in the West End, strong rents expected to increase — Beth Hepple @ 12:00 pm

Lease expiration and clause breakage may lead to office space difficulty this year.

Companies are expected to relocate and downsize whilst rents are expected to have a strong value.

Many companies will have the option of downsizing the amount of office space that they lease in 2012 as many of their leases expire.

According to predictions by Jones Lang LaSalle (JLL), there is 6.2m sq ft of office space in Central London that is set to expire or experience a break clause this year as companies seek more cost effective ways of meeting their property needs. (more…)

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Office space in London sold for £27m

Filed under: News — Tags: GM Real Estate, Hanlon Bennett, Jones Lang LaSalle, Lloyds triangle in the insurance district, Palmer Capital Development Fund sell 155 Fenchurch Street, Trivova estate purchase London office space, Walbrook Land — Beth Hepple @ 9:32 am

Trinova Estate acquired the property at 155 Fenchurch Street on behalf of a client.

Sale of the Lloyds Triangle development is the latest for Palmer Capital Development Fund.

The Palmer Capital Development Fund has sold its office space at 155 Fenchurch Street for £27m. Palmer Capital sold the property in conjuction with Walbrook Land to Trinova Real Estate who purchased it on behalf of a client.

The building already boasts retail space on the ground floor as well as 42,805 sq ft of office space and is situated in the ‘Lloyds Triangle’, a prime location in the City’s insurance district. The 2010 development is already home to big names such as Eat, Carphone Warehouse and Norman Butcher Jones and the sale follows another recent Palmer Capital sale at 38/40 Eastcastle Street for £8m and Bristol’s prime office development ‘The Paragon’ for £26.5m.

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Lack of demand for offices in The City

Filed under: News — Tags: CBRE, City of London, Colliers International, Evolution Securities, Jones Lang LaSalle, London office space, Mike Bessell, minerva, office space, Savills, Walbrook — Beth Hepple @ 12:16 pm

New office developments in the City of London are unoccupied.

Costs and lack of demand are just two of the reasons why offices are remaining empty according to new reports.

Many of the office developments in the capital are remaining unoccupied due to a lack of demand and the high expense of office space in the weak financial climate.

The current economic downturn has also seen some companies extend existing leases rather than seeking out new ones upon expiration.

Some of the most well-known skyscraper projects have remained empty following their completion including Minerva’s Walbrook in London’s financial district. The Walbrook is just one of the buildings that remains unoccupied in the area, two years after its completiton. In fact it is estimated that in the vicinity, 66% of the office space completed this year is yet to be leased.

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London sees an increase in overseas investors

Filed under: News — Tags: Jones Lang LaSalle, London commercial properties, London office space, office statistics, overseas investors, Uk Office Space — Lee Kozlowski @ 2:12 pm

Increase in overseas investors for London office space.

Positive commercial property investment figures for City of London.

New figures from property experts Jones Lang LaSalle show that overseas investors have increased the amount of money they spend on London office space. Statistics show that buyers from overseas have increased their spend by 25% in H1 this year.

Overall overseas buyers have invested in around £3.1 billion worth of office space in Central London during H1. This subsequently accounts for 57% of the complete office investment volumes in London itself. According to Jones Lang LaSalle this also represents a 25% increase on the figures seen in the first six months of last year. (more…)

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London sees increase in demand for office space during Q1

Filed under: News — Tags: Jones Lang LaSalle, London office space, office leasing in London, office leasing statistics, Q1 figures, Uk Office Space, West End office space — Lee Kozlowski @ 10:19 am

London sees and increase in office demand.

Q1 figures show a steady rise in office demand in the UK capital.

Figures released by real estate advisors Jones Lang LaSalle show that Central London office space has seen an 6 percent increase in demand during Q1 in 2011. This is a positive turnaround in comparison to figures seen throughout 2010.

The city market has seen an overall increase of 12 percent which is an increase of 7.8 million square feet of office space. In London’s West End demand has risen by 11 percent, which is around 4.3 million square feet. (more…)

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Multi-million London office space property bought by LaSalle Investment Management

Filed under: Uncategorized — Tags: 100 Middlesex Street, Generation Estates, Jones Lang LaSalle, LaSalle Investment Management, Nido Student Tower, TP Bennett — Amy Edwards @ 9:21 am

Real estate investment managers, LaSalle Investment Management, a subsidiary of Jones Lang LaSalle, recently announced the property purchase of 100 Middlesex Street, E1, in a deal costing approximately £26.5 million.

In a deal in conjunction with Generation Estates, LaSalle purchased the property from Blackstone on behalf of a pension fund client with a net initial yield of 5.5%. LaSalle were advised by Savills and Blackstone were advised by GM Real Estate.

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Catalyst European Property fund purchases London office space and shopping centre

Filed under: News — Tags: Catalyst European Property Fund, Jones Lang LaSalle, Land Securities, London commercial property market, London office space, Lunson Mitchenall, Stratford shopping centre — Amy Edwards @ 9:35 am

In a deal costing approximately £91.55 million, the Catalyst European Property Fund has purchased a number of London properties, including a Stratford shopping centre and a 113,000 sq ft office building.

With these purchases, the Catalyst European Property Fund aims to strengthen its portfolio of London commercial property, as well as exploring further opportunities for effective development in the area.

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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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