• Secondhand office availability has risen dramatically over the last five years across all of the regional centres, moving from 6.8m sq ft in 2007 to 13.3m at the end of 2011.
• As occupiers look to better quality, higher specification premises that they can better afford, the older, less flexible secondhand offices are becoming redundant.
• Rental and capital values of prime properties have out-performed secondary properties over the course of the last five years. Landlords and developers should look to reposition their assets either through redevelopment or a complete change of use.

• Investor demand still strong amid emerging applications picture, with £246m transacted in Q1
• Yields for long leased product tighten to 5.5% in the regions
• Investor demand for direct let continues to be London-focussed
• Applicants 5.2% down for degree courses, but system is still oversubscribed by 80,000 more applicants than 2011 intake
• Continued strong growth in international students

A review of the office market in the second half of 2011, and a look forward to prospects for 2012.  The report covers:

• Take-up
• Supply
• Rents and yields
• Investment market
  

• Weak investor sentiment continues to weigh on the commercial property market and contributed to a 0.3% fall in capital values during April.
• Capital values have been on a downward trend since the beginning of the year and are now 1.25% down for the year to April.
• Central London offices was again the standout performer helping to offset a generally weak performance from all other sub-sectors, particularly regional offices.
• The retail sector saw a general easing in capital declines, falling by 0.4% after a 0.5% fall in March.
• Industrial property enjoyed the largest total return this month, of 0.4%, thanks to its large income return.
• With all sectors now in retreat, the turning point in the market seems to have been November 2011, with values down by 1.32%.

• Under offers continued to increase, reaching 2.08m sq ft.
• Availability increased in April and now stands at 16.42m sq ft.
• Take-up in April was 373,900 sq ft, representing a 58% decrease when compared with the previous month.
• There is a total of 3.74m sq ft of office space in Central London with lease expiries or breaks due before the end of 2012.

• Take-up down on Q4 at 2.3m sq ft
• Availability continues to rise, reaching 16.3m sq ft
• Central London vacancy rate remains at 5.2%
• Rental growth limited over quarter, only 0.6% rise in index
• Increase in construction starts – 1.6m sq ft
• Investment transactions up significantly to £3.7bn

• There was some positive growth for prime rents in the first quarter, with London once again pulling the wider UK figure into positive territory. Overall the Prime All Property rental index grew by 0.2% in Q1.
• Offices and Industrials were the strongest sectors, each with growth of 0.4%, buoyed by some upward movement in certain London sub-markets.
• Investment market sentiment remained neutral once again this quarter, with the All Property yield staying flat at 6.1% for the 5th consecutive quarter.
• There remains evidence that in most regions outside the South East, yields remain fragile and that outward movements are imminent.
• The property/gilt yield gap decreased slightly in the first quarter of 2012, as gilt yields moved out to 2.2%. This took the gap to just under 400bp.
• The first quarter of 2012 ended in a flurry of deals, predominantly in Central London Offices, the overall figure for Q1 was £7.5bn.

A review of the office market in the second half of 2011, and a look forward to prospects for 2012.  The report covers:

• Take-up
• Supply
• Rents and yields
• Investment market
  

A review of the office market in the second half of 2011, and a look forward to prospects for 2012.  The report covers:

• Take-up
• Supply
• Rents and yields
• Investment market
  

A review of the office market in the second half of 2011, and a look forward to prospects for 2012.  The report covers:

• Take-up
• Supply
• Rents and yields
• Investment market