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West End office space acquired by Lothbury

Filed under: News — Tags: Angel Building, Cancer Research UK, Kingsway office space, London office space, office developments in London, office space on St. James Street, West End office renovations, West End office space, Windsor House — Lee Kozlowski @ 2:54 pm

London office space in St. James’ Street purchased by Lothbury.

West End office space to be renovated after new purchase deal from Lothbury.

Windsor House has been acquired by Lothbury with the aim to create new office space in London’s West End.

The building was purchased for around £20 million by the investment company and is located on St James’ Street in the heart of the West End. Windsor House will be renovated and developed into 32,000 square feet of office space, there are also plans to convert the top floor into residential space. (more…)

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Mindshare have acquired new West End office space

Filed under: News — Tags: Architect Renzo Piano, London office development, London office space, West End office space — Lee Kozlowski @ 1:09 pm

London office space purchased by media company Mindshare.

London media agency Mindshare have bought up new West End office space.

Media agency Mindshare have taken up new office space in the West End of London.

The company have become the first commercial tenants of the new office development Central Saint Giles.
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Real IS take 80,000 sq ft of office space in the West End

Filed under: News — Tags: Bloomsbury, Canary Wharf Group, real estate funds, real IS, West End office space — Amy Edwards @ 10:09 am

Asset management firm, Real IS has taken office space in the West End in a multi-million deal that will secure them a number of further deals with high-profile and national clients.

Real IS have taken 80,000 sq ft of office space in 21 Bloomsbury Street, West End, for a deal costing £52 million.

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West End office space rents rise for first time in three years

Filed under: News — Tags: Jones Lang LaSalle, Office space in Mayfair, Rent rise in West End office space, West End office space — Javaria @ 10:16 am

West End office rents have risen for the first time in three years, according to research by Jones Lang LaSalle (JLL).

Rental rates increased to £85 per square foot in the second quarter, up from £75 per square foot in the first quarter. The real estate firm expects rents to hit £87.50 per square foot by the end of 2010. (more…)

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London rental growth set to pick up, say Mid-Eastern investors

Filed under: News — Tags: Asteco, demand, Mayfair office space, Mid East, Middle East, Middle Eastern, rental growth, Savills Research, St James's office space, supply, West End office space — Adam @ 9:21 am

Middle Eastern investors predict that rental growth will return to London, but that it will be due to under-supply rather than increased demand.

Asteco, a Middle Eastern real estate firm, has released a report that predicts the under-supply of office space will cause a fury of companies renting Grade A space.

The report also suggests that this growth will increase further as there will be less and less London office development projects, due to a lack of financial backing.

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British Land to redevelop West End office

Filed under: News — Tags: Baker Street, Baker Street office space, British Land, McAleer & Rushe, office space, redevelopment, West End, West End office space — Adam @ 10:11 am

2-14 Baker Street has been bought for £29million by British Land, as part of £100million redevelopment plan.

British Land has acquired a prime office location in London’s West End, in order to take advantage of the increased demand for office space.

The property was sold, in an opportunistic deal, by Irish developer McAleer & Rushe.

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Increased demand for London office space

Filed under: News — Tags: City of London, City of London office space, knight frank, occupancy rates, vacancy rates, West End, West End office space — Adam @ 10:11 am

The amount of leases of London office space has more than doubled since this time last year.

In the first quarter of 2010 leasing of Central London office space saw a 100% increase, compared to Q1 of 2009.

Reports suggest that this is the case all across London, with City of London reaching an above average occupancy rate and the West End seeing a significant recovery.

Within Q1 2010 the city actually leased or sold 2.2 million square feet of office space, compared to only 0.7 million sq-ft for the same time last year.

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Increase in office occupancy leads to new office developments

Filed under: News — Tags: City and Docklands, Cushman & Wakefield, Docklands office space, increased occupancy, London City office space, office space, West End office space — Adam @ 10:03 am

A report by Cushman & Wakefield showed that 3.1million square feet of London office space has been rented in 2010, a figure 330% higher than in the same period in 2009.

Figures show that the West End, City and Docklands have had a significant growth in occupancy for the beginning of this year, perhaps because companies have decided to relocate to new offices to take advantage of low rental prices.

Cushman & Wakefield, real estate experts, have suggested that this growth could encourage developers to construct new buildings to meet the growing demand for office space.

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British Land hits a 92 percent occupancy rate

Filed under: News — Tags: British Land, City of London, london, occupancy rate, office space, West End, West End office space — Adam @ 10:27 am

British Land has recently announced that they have secured lettings on 465,000 square feet of office space since February.

British Land had previously established a significant London based deal with the Macquarie Group, Gill Jennings & Every LLP and Dickson Minto for 256,000 sq-ft of office space.

Now with similar lease agreements, British Land has reached a staggering 92% occupancy rate.

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