Take-up in Central London for Q2 2019 was 3.0m sq ft, below the 10-year average of 3.3m sq ft. Under offers increased by 9% to 4.1m sq ft. Availability continued to fall, standing at 13.0m sq ft at the end of Q2.
In the UK city office markets outside London, take-up was at its highest level since Q1 2018, increasing by 55% to 1.9m sq ft. Availability in the UK office markets fell marginally during the quarter to 13.6m sq ft.
Relative to the five-year average, the best performing UK office markets in Q2 were Southampton (where take-up was 132% above trend), Birmingham (45% above trend) and Manchester (39% above trend).