McKay Annual Results 12 months to 31st March 2016 - page 27

MKS / MAY 2016 /
27
MARKET REVIEW
South East Offices
39% ahead of 2014
13% ahead of 5 year average
Q1/16 named demand up 7% on Q4/15
Market trends maintained in 2015:
– 79% of sq ft let < 60,000 sq ft
– 84% of lettings Grade A / new
Demand drivers:
– Lease events
– Consolidation
– Obsolescence/age of building
– Communications
0
1
2
3
4
5
2004 2005 2006 2007 2008
5 year average
Lettings > 80,000 sq ft
Named demand (Q1)
2009 2010 2011 2012 2013 2014 2015
2016
2018
2017
lease breaks / expiries
= 16.6m sq ft / 901 no
2016
(Q1)
sq ft (million)
2015 LETTINGS: 2.13M SQ FT
Source: Strutt & Parker
Lettings
(McKay market area)
1...,17,18,19,20,21,22,23,24,25,26 28,29,30,31,32,33,34,35,36,37,...38
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