Feature Report

Find out how the Central London Market is faring in the current economic conditions...


Recent Reports

  • Recent Reports

  • Birmingham Office Quarterly Market Update Q3 2013 ( 108KB )
    • A review of the office market. This report covers supply, rents and yields
  • Central London Office Monthly MarketView October 2013 ( 334KB )
    • Take-up in Central London for October 2013 was 1.08 million sq ft, an increase of 20% on the previous month
    • Central London availability fell by 2% in October to stand at 16.61 million sq ft
    • Under offers in Central London increased for the third consecutive month to stand at 2.66 million sq ft
    • The largest deal of the month saw Sport England acquire 77,400 sq ft at 21 Bloomsbury Street
  • CBRE UK Monthly Index November 2013 ( 155KB )
    • UK commercial property continued to improve during October, with capital values increasing by 0.6% over the month, resulting in growth of 2.0% so far this year. Total returns were 1.1% in October and 7.7% over the year to date.
    • In the retail sector capital values continued to improve, increasing by 0.4% over the month. High street shops, shopping centres and retail warehouse all recorded a positive uplift in capital values, showing some stabilization in this sector.
    • Capital values in the industrial sector increased by 1.0% over the month, resulting in total return of 1.7% in October. This is the first time that All Industrials has recorded the highest monthly capital value growth since March 2009.
    • Overall in the office sector total returns and capital value grew by 1.2% and 0.6% respectively during October. All offices from across the country have been contributing to the overall performance of the sector and not just Central London, as had been the case until about March this year. The gap between the performance of Central London and the rest of the UK continued to close in October, although office capital value growth in Central London remains slightly higher than in the rest of the UK.
  • Edinburgh Office Quarterly Market Update Q3 2013 ( 115KB )
    • A review of the office market. This report covers supply, rents and yields
  • Aberdeen Office Quarterly Market Update Q3 2013 ( 109KB )
    • A review of the office market. This report covers supply, rents and yields
  • Northern Ireland Bi Monthly Research Report November 2013 ( 185KB )

    2013 has seen the first signs of recovery emerging in the Northern Ireland commercial property market with transactional activity in all sectors up year-on-year.

    A number of significant investment properties have sold recently in Northern Ireland including a Tesco Extra store in Newry, which sold for £30.3 million, reflecting a net initial yield of 4.95%. 

    Most of the demand for institutional grade investment properties is emanating from UK investors who are increasingly looking for opportunities in regional markets such as Belfast.  

    There has been a steady volume of letting activity in the office sector. Although no large lettings have been signed recently there are several outstanding requirements. 

    The news that planning permission has now been granted for a new 7,710m2 (83,000 sq. ft.) Grade A office building at City Quay in Belfast Harbour which is due to go on site shortly is warmly welcomed as this is the first speculative development in the city in over six years.  

    In the retail sector, a number of new retail lettings have been agreed several new restaurants have opened recently with 3 new restaurant openings planned on Belfast’s Howard Street in the run-up to Christmas. 

    With the annual Christmas market at City Hall and an ice-rink planned for Custom House Square, it is hoped that political tensions can be kept at bay and that flag protests planned over the coming weeks won’t deter from what promises to be a busy Christmas trading period across the region

  • Bristol Office Quarterly Market Update Q3 2013 ( 109KB )
    • A review of the office market. This report covers supply, rents and yields
  • Leeds Office Quarterly Market Update Q3 2013 ( 110KB )
    • A review of the office market. This report covers supply, rents and yields
  • IN_BUSINESS Autumn 2013 ( 5.74MB )
    • We are delighted to release the inaugural edition of IN_business. This new magazine takes a look at key trends in the national office and industrial markets.  We hear from experts from CBRE's National Team who explore the spike in market we've experienced this year across the UK and implications for future trends.  Some of our clients have also contributed to provide further insight into how they are responding to market trends.
  • Southampton Office Quarterley Market Update Q3 2013 ( 109KB )
    • A review of the office market. This report covers supply, rents and yields
  • Thames Valley & M25 Office MarketView Q3 2013 ( 329KB )
    • A review of the office market. This report covers supply, rents and yields
  • Manchester Office Quarterly Market Update Q3 2013 ( 125KB )
    • A review of the office market. This report covers supply, rents and yields
  • Glasgow Office Quarterly Market Update Q3 2013 ( 128KB )
    • A review of the office market. This report covers supply, rents and yields
  • Regional Residential Viewpoint - Residential Development Land Market Autumn 2013 ( 338KB )
    • Consented land in most regions has experienced price rises over the past quarter as demand for land increases on the back of increasing sales rates.
    • Government backed funding schemes have improved domestic mortgage markets and accessibility for buyers at all pricing levels, providing developers with sufficient confidence to activate their land buying.
    • An upturn in UK housing market attributed to economic recovery, improved lending schemes and a shortage of new build supply will help push national house prices up by 17% over the next five years.
  • Central London Property Market Review Q3 2013 ( 9.71MB )

    The latest edition of our Central London Property Market Review, which provides a comprehensive overview of activity across the Office, Retail and Residential sectors.

  • UK Prime Rent & Yield MarketView Q3 2013 ( 169KB )
    • At the national level commercial property rents grew by 0.6% over the last quarter continuing the stronger rental growth seen in the last two quarters.
    • Offices were the best performing sector in terms of rental growth in Q3 2013, as has been the case for each of the last five quarters. The rate of growth was an average of 1.8% in prime rents over the quarter.
    • The rate at which prime yields are falling across the country continues to accelerate. Overall, the average prime yield dropped by 12 bps in Q3 to 6.08%. The biggest fall was recorded in the industrial sector, where the average prime yield fell to 7.19% at the end of Q3.
  • Central London Office MarketView Q3 2013 ( 387KB )
    • Take-up in Central London in Q3 2013 was 3.60m sq ft, a 4% increase on the previous quarter but 55% higher than the same period last year.
    • Availability decreased in Q3 2013 after four consecutive quarters of increases to stand at 16.87m sq ft.
    • Central London under offers fell by 13% over the course of the quarter to stand at 2.51m sq ft.
    • The largest transaction of the quarter saw News UK acquire 430,200 sq ft at The Place, London Bridge Quarter.
  • Scotland Viewpoint - Changing Scotland: Property Impacts of the Scotland Act 2012 October 2013 ( 245KB )
    • From April 2015 Stamp Duty Land Tax will be replace in Scotland by Land & Buildings Transaction Tax.
    • This change will happen, regardless of the outcome of the 2014 Scottish Independence Referendum.
    • Unlike the ‘slab’ structure for SDLT, Land & Buildings Transaction Tax will be a ‘progressive’ tax, operating in a similar way to income tax.
    • As yet, the rates and bands that apply have not been revealed. This report demonstrates how the tax will function and assesses the potential implications.
  • Leisure Property Dashboard Q3 2013 ( 649KB )
    • The latest dashboard highlights some of the major transactions in the sector together with the team’s view of the market and current trends within leisure. We review the key dynamics of the ground rent investment sector; the new buyer groups acquiring  leisure assets and highlight the  self-storage sector one of the many specialist  leisure markets which continues to evolve.
  • United Kingdom Real Estate Finance ViewPoint - A Virtuous Or Vicious Circle? ( 377KB )
    • Economic sentiment is improving and recent rises in term rates are positive factors for real estate fundamentals.
    • The increases have been from a very low base and are not expected to rise rapidly.
    • Risk premiums in the bond markets are decreasing.
    • The spread between BBB bonds and prime real estate is still bigger than at the start of 2012.
  • Northern Ireland MarketView Q3 2013 ( 909KB )
    • Some signs of improvement in economic indicators in Northern Ireland since the beginning of 2013
    • Notable improvement in transactional activity in the investment sector over recent months with more property being released for sale
    • A number of prime investment assets are currently under offer, mostly to UK funds and institutions, many of which have not invested in Northern Ireland in many years
    • Prime yields have contracted in many sectors in response to strong demand for institutional grade assets
    • Office take-up of 67,180 sq. ft. was signed in Belfast in Q3 2013, bringing total take-up in the nine month period to almost 275,000 sq. ft.
    • Lack of Grade A offices in Belfast will put upward pressure on rental values in due course
    • New office planning applications have recently been lodged which will provide much-needed Grade A accommodation
    • Demand for freehold industrial properties remains strong with owner-occupiers attracted by the fact that capital values remain below replacement cost
    • Improvement in retail vacancy rates in the last six months
  • United Kingdom National Office Market Review H1 2013 ( 2.48MB )
    • The first half of 2013 has seen an improvement in the level of demand for office space across the UK city office markets. Take-up across the South East reached 1.46m sq ft, an increase of 7.4% on H2 2012 and 20% up on the same period last year.
    • Across the regional cities, a total of 1.59m sq ft has been taken in the first half, the highest six month total for five years.  Almost all cities saw take-up at or above long-run averages with Leeds, Edinburgh and Aberdeen all above their five year averages.
    • Supply, particularly for grade A space, continues to diminish. With some speculative development completing in H1, other schemes have begun in Bristol, Glasgow and the Thames Valley. However, a number of other cities could now face shortages of Grade A space.
  • Southbank - London's Transforming Skyline September 2013 ( 2.58MB )
    • Southbank transformation has been one of the capital’s success stories over the past decade
    • Southbank average new-build prices rising from £500 psf five years ago, to £1,300 psf now
    • 27 schemes in the planning pipeline along the southern fringe of the river
    • Out of 27 Southbank schemes, 50% have agreed s106 contributions and growing total already over £1.5bn
    • Southbank will contribute around 16,300 homes over an approximate 10 year period; around 1,600 new homes per year
  • EMEA ViewPoint - International Capital In London June 2013 ( 291KB )

    CENTRAL LONDON PROPERTY IDENTIFIED AS TARGET FOR SOVEREIGN WEALTH AND PENSION FUNDS

    • Japan’s pension funds likely to increase exposure to direct foreign investment, prompting anticipation of capital flows into London’s commercial real estate market
    • Changes in regulations in Asia-Pacific prompts Australia and Taiwan’s pension funds to consider London
  • IN_London Autumn 2013 ( 4.57MB )
    • The last two-to-three years has seen London elevated to number-one global property hotspot. Demand levels in the capital are quite unsurpassed: I have certainly not seen the like before during my career. Central London property markets are literally booming. Rents have surged; premiums are back with a vengeance. Residential price growth has meanwhile proved so strong that a wave of major mixed development activity is now being stirred throughout Inner London.
    • This special London edition of IN_retail, explores the meteoric rise of the capital during the downturn and why – due in part to simply mammoth infrastructure and public realm improvements – the growth surge is set to accelerate, spilling development into previously moribund markets scattered throughout central and inner London.
    • This issue covers both mainstream retailing in central London and the suburbs together with an array of huge mixed use developments: schemes set to bring an  entirely new vibrancy to swathes of the inner-city. In the articles that follow, our London experts (retail and mixed-development) take a hard look at the seemingly inexorable demand growth for London property, exploring immediate prospects and the longer term opportunities that are beginning to emerge.
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