I’ve been riding to work recently. Its fast and healthy, if it doesn’t kill you.
To take my mind off the punishing hill, my mind wandered to street names off the avenue following an ecclesiastical theme. Deansway, Bishops Grove, Canons Close and where was Abbots Close? Is there an Abbots Close?
Then a lady on an old fashioned bicycle with a basket full of flowers shot past me! Puff! Her face looked serene and she was pedalling really slowly. I don’t mind telling you I was gutted!
I struggled through the pot holes and half a mile later I managed to catch up with her. And you can only imagine my shock (and relief) when I detected her bike was electrically powered!
As I pedalled on to our offices in Marylebone, I mused that things are often NOT what they seem to be. And this got me thinking about the London office rental market, which is what this blog post is meant to be about!
Reading between the lines…
On the ground right now, office space being marketed seems to stick around for a great deal of time. And when properties finally go “under offer” deals can take an age to complete. At the same time, research indicates there has been a huge amount of office take up over the last 6 months.
Read between the lines of the London office market – you can’t always take reported office deals at face value!
When you look at the data more carefully however, you can see that non-prime office space is still taking a long time to let. And when landlords let prime space to big corporates, they are often giving away very big sweeteners. This reminds me, it’s important to read between the lines when analysing the London office market – you can’t always take reported office deals at face value.
I will look more closely under the bonnet and may write about these sweeteners in a later post.
In the meantime, keep up to date with our London office rental guide.