11 Curzon Street, London, W1J 5HJ
T: 020 7499 6070 • F: 020 7499 6080 • E: info@simonkorn.co.uk
Midtown - WC1 & WC2
Quarterly take up in the Midtown office market has fallen to its lowest level since the start of the year. 264,000 sq ft has been recorded so far in Q3, which is a 34% decline on Q2 and a 12% decline on Q1. It was expected that the Midtown market could capitalise on the slumps experienced in the neighbouring City and West End markets, this has not materialised seeing only a slight peak in take up in Q2.
- 264,495 sq ft recorded so far for Q3, 51% of which is new or refurbished space.
- 4.6 million sq ft of available space, 30% of which is second hand space.
- Average rents have fallen from £30 psf in Q1 to £28 in Q3.
- 27,046 sq ft newly marketed in September.
Acquisitions
44 Hertford Street
Acquired for a firm of recruitment consultants as part of their expansion plans.
Comprises a self contained period building arranged over lower ground, ground and 5 upper floors totalling 3,795 sq ft.
Acquisitions
Millenium Bridge House, 2 Lambeth Hill, London EC4
Acting on behalf of a firm of international lawyers we acquired a suite of offices totalling 25,477 sq ft arranged on the 3rd floor and provided with raised floors, lifts, commisionaires, suspended ceilings and air conditioning.
Disposals
2 St James's Place SW1
On behalf of a private investor we advised on the refurbishment of this period office building & subsequently pre-letting.
Lease Renewals
55 Strand WC2
Acting on behalf of recruitment consultants we negotiated the rent review of the entire upper part of this landmark building totalling 26,500 sq ft.