23
0
1
2
3
4
5
sq ft (m)
2003 2004 2005 2006 2007 2008
5
year average
2009 2010 2011 2012 2013
(
Q3)
Current named
demand
2014
2016
2015
lease breaks / expiries
= 16.8m sq ft / 886 no
Sustained lettings
Source: Strutt & Parker
Lease event and expansion driven
Obsolescence –
58%
of tenants in buildings >18yrs old
(
IPD Monthly Index)
• 75%
of relocations within
10
miles
Environmental issues
Lettings
(
core market area)
MARKET REVIEW
South East Offices