• Following a strong second quarter, 1.4m sq ft transacted across the UK office markets during Q3. This brought the year-to-date total to 4.4m sq ft. This is 21% behind the same period in 2018.
     
  • The largest deal of the quarter, and indeed the year, totalled 273,000 sq ft of pre-let space acquired by JP Morgan Chase in Glasgow.
     
  • Over the last 12 months, the business services sector has accounted for the largest proportion of take-up at 28%, including 800,000 sq ft of deals to flexible office operators.
     
  • Availability across the UK office markets grew by 4% during Q3 to total 13.6m sq ft.
     
  • The increase in availability was caused by a 6% jump in secondhand space whilst the availability of new and early marketed space remained stable. Bristol, Edinburgh, Glasgow and Manchester all saw increases in available new space.
     
  • At the end of Q3, there was 6.6m sq ft under construction across the UK office markets, of which 42% had already been let or was under offer.