Corporate Fit-Out Winners 2012-2016

 

 

 

 

 

 

 

 

London Top 10’s

The Corporate Fit Out Winners 2012-2016

Metropolis Property Research has just released its latest report for the period 2012-2016 on the central London office fit-out market.

The report provides Top 10 Rankings for those firms involved in ‘CAT B’ projects for corporate occupiers taking new space for interior design, project management, fit-out ‘build’, and agents advising tenants.

 

The No 1 TOP 10 firms are:

No 1 Interior Architect  – TP Bennett

TP Bennett has been ranked as London’s No 1 interior architect with 4.7m sq ft of interior design projects for corporate occupiers taking new space 2012-2016.  This is 29% market share amongst the named TOP 10 firms.

 

No 1 Fit Out Contractor – ISG

ISG has been ranked as London’s No 1 fit out contractor with 5.0m sq ft of fit-out projects for corporate occupiers taking new space in 2012-2016.  This is 33% market share amongst the named TOP 10 firms.

 

No 1 Interior Project Manager – CBRE

CBRE has been ranked as London’s No 1 project manager on interior fit out projects with 3.5m sq ft of projects for corporate occupiers taking new space 2012-2016.  This is 24% market share amongst the named TOP 10 firms.

 

No 1 Tenants Agent – CBRE

CBRE has been ranked as London’s No 1 tenant agent with 6.2m sq ft of occupier deals done on new office space 2012-2016.  This is 30% market share amongst the named TOP 10 firms.

 

 

Editorial Notes

In the five-years covered by the research (2012-2016) a total of 57.3m sq ft of new office space has been let in central London. The report has looked at deals of 2,322 sq m (25,000 sq ft) and over – which are the focus of the analysis – and amount to 30.3m sq ft of office space fitted out in 433 projects.

The report ‘London Top 10’s – The Corporate Fit Out Winners 2012-2016’ is available from Metropolis Property Research.   For details please contact simon@metroinfo.co.uk

 

About Metropolis Property Research Ltd

Metropolis Property Research is an independent research and information company established in 1998.   The company carries out research into the London and UK office markets and corporate relocation leads.

Metropolis Website and Blog – http://www.metropolisleads.uk

 

Copyright Metropolis Property Research Ltd 2017

22m sq ft of office demand

Metropolis 2015 UK Research Review

The Metropolis research team produced a total of 6,439 relocation, construction and refurbishment leads in 2015.  1,195 new office requirements were identified in total,  accounting for 22m sq ft of demand from companies looking for new office space.

62% of Metropolis leads were projects located in the South of the UK, with 38% of lead projects located in Wales, the Midlands, North, North West, Yorkshire & Humberside, Scotland and Northern Ireland. Greater London projects represented 44% of the 2015 lead total.

 

 

 

 

 

 

 

Greater London

In Greater London, Metropolis identified  just over 16m sq ft of requirements for offices, with over 827 companies looking for new space. About 12.6m sq ft of this demand was for central London space. The top 5 most sought after postcode areas by demand were:  EC2 (2.2m sq ft), W1 (2m sq ft),  SW1 (1.7m sq ft),  EC3 (1.3m sq ft) and E14 (1.2m sq ft).

 

South East

The number of leads in the South East (not including London) jumped by 22% when compared to 2014’s total. Over 150 office requirement leads were researched in the region in 2015,  representing just over 3.5m sq ft of office demand. The largest office requirements centered on RG1 and SL1 postcodes, including several 9,290 sq m (100,000 sq ft) + requirements from energy, media, pharmaceutical and technology companies.

 

North West

Office relocation and refurbishment activity continued to be strong in the North West, particularly between 186 sq m (2,000 sq ft) and 929 sq m (10,000 sq ft) projects.  Just over 2m sq ft of office demand was identified in the region, the largest requirements centered on the Greater Manchester area. About 60 Manchester companies were linked with searches for new space, around 1.5m sq ft of office demand.

 

Scotland

Leads numbers in Scotland were slightly up on 2014’s result (3.5% up). The region remains the UK’s 4th most active in terms of the number of  Metropolis lead projects researched, but 3rd in terms of total office demand.  Metropolis identified 2.1m sq ft of office demand in Scotland as a whole in 2015, 1m sq ft of which was demand for Edinburgh space and 0.8m sq ft of which was demand for space in Glasgow.

Some of the largest requirements came from the banking and finance sector, which were mainly centered on Glasgow. The largest requirements for Edinburgh space came from the accountancy, law and technology sectors.

 

Yorkshire & Humberside

In Yorkshire and Humberside, just over 1m sq ft of office requirements were identified, with 115 companies looking for new space. Demand for new space in Leeds accounted for 0.8m sq ft.

 

West Midlands

West Midlands lead numbers were up 21% on the 2014 total. Just over 1m sq ft of office demand was identified in the region, 0.7m sq ft in Birmingham. About 180,000 sq ft of office demand was identified in Coventry, boosted by a 100,000 sq ft requirement from an energy company.

 

South West

In the South West, just over 0.5m sq ft of new office demand was identified. Bristol was the preferred location in the South West for large insurance and law sector moves.

 

North

Lead numbers in the North increased significantly for the second year running, up 29% on 2014. About 0.6m sq ft of office demand was identified in the region, 0.2m sq ft in Newcastle.

 

East Midlands

Lead numbers in East Midlands were slightly up on the five year average. The largest requirements mainly came from the manufacturing and retail sectors looking for distribution space with offices.

 

East of England

East of England lead numbers were up 33% on 2015’s total. The top five office requirements by size came from technology, pharmaceutical, accountancy and law sector companies. Office demand tracked in Cambridge reached 0.4m sq ft.

 

Wales

The largest office requirements in Wales came from the Public sector, with a 130,000 sq ft requirement from a government department  looking in Cardiff. However there were also two 100,000 sq ft requirements from law and insurance firms also looking in Cardiff, where total office demand was just over 0.5m sq ft.

 

Northern Ireland

The largest office requirements unsurprisingly came from Belfast occupiers, with government, accountancy and technology sectors the most active.

 

 

UK Lead Projects By Size

50% of Metropolis leads in 2015 reported on projects over 10,000 sq ft. 44% of leads were made up of projects between 5,000 sq ft and 30,000 sq ft. 68% of leads covered projects over 5,000 sq ft.

 

 

 

 

 

 

 

The increase in lead projects between 2,000 and 5,000 sq ft was  significantly influenced by added investment into regional research by Metropolis, particularly in the South East, West Midlands and South West.

A significant number of new office mover leads, typically 20 to 50 staff relocations,  were identified in these areas in 2015.

The 40 and 50 redevelopment schemes in London that effected existing tenants in 2015 also contributed to an increase in the proportion of these lead projects.

These schemes, which include demolition and refurbishment of existing buildings,  forced hundreds of SME office occupiers to find new space, the significant proportion of which occupied between 1,000 and 5,000 sq ft.

 

 

 

 

 

 

 

 

UK Lead Numbers by Sector

The Banking & Finance Sector just edged ahead of  Technology & Telecoms leads in 2015 and was the most active UK business sector in terms of relocation and refurbishment projects. Lead numbers fell by 8.5% when compared to 2014’s strong result,  but were still about equal to the five year average.

The largest requirements in this sector were focused on space in Docklands and London EC2. The largest office lettings were on space in London EC4 and EC2.

 

 

 

 

 

Office demand from the technology and telecoms sector was just over 3m sq ft. Two of the top five largest requirements for new space from the T&T sector came from social media companies, both seeking in excess of 100,000 sq ft of space in the West End of London.

The majority of requirements for new space over 50,000 sq ft centered on London, but there were notable exceptions, including a 150,000 sq ft requirement for space in Cambridge from a US Software firm and a 100,000 sq ft requirement for offices in Warrington from a US computer manufacturer.

Office demand from media sector companies, often grouped with Technology and Telecoms under the banner “TMT”, reached 2.5m sq ft.

Central London, particularly SW1, W1 and WC2, was the overwhelmingly preferred location for this sector. The largest media requirement outside of London came from a media broadcaster looking for 150,000 sq ft in the Thames Valley.

Demand for new space in the law sector focused on London EC2, with three 200,000 sq ft + requirements for new space in this postcode.  Outside of London, the largest office requirements centered on Manchester and Birmingham.

 

Copyright Metropolis Property Research Ltd 2016

Metropolis London Skyline Report

The London Wrecking (Christmas) Ball

or “What Comes Down Must Go Up”

abridged

 

 

 

 

 

Metropolis and Cityoffices have completed their bi-annual ‘Skyline’ survey of the central London office development market for the period April 2015 to October 2015. The survey takes a snapshot of the central London office construction in Q4 2015, recent completions, recent pre-letting activity and looks ahead to future pipeline projects that will shape the next three years.

There are now 78 office schemes under construction in central London (compared to 74 six months ago) totaling an increased 11.1m sq ft (9.5m sq ft in April 2015). In the last six months there have been 31 new scheme starts, totaling 3.4m sq ft, including major new-builds such as the 866,000 sq ft 100 Bishopsgate in EC3, the 400,000 sq ft 10 Fenchurch Place in the City of London and the 228,000 sq ft 33 King William Street (33 Central) in EC4.

 

 

 

 

 

 

The City dominates construction with 6m sq ft of new office space in schemes now underway (up from 4m sq ft in early 2015). There is now 500,000 sq ft of office space under construction at Kings Cross, with more at site clearance stage. The West End, including Paddington, has 2.7m sq ft under construction and a further 600,000 sq ft of office build is on-site in Midtown, but Southbank and Docklands still lag behind the rest of London.

The big story is the forthcoming space at demolition stage, with over 7m sq ft lined up to start in early 2016 and more to follow later in the year. In reality, further schemes currently at planning stage will add to these numbers, particularly the 2017 and 2018 totals. Therefore we expect development completions in 2017 and 2018 could reach 7-8m sq ft.

Looking ahead, some 33 future schemes are currently at site preparation stage with 7.2m sq ft of additional office space due to go under construction in the next 6 months. Many of these schemes will not be completed until 2017 or 2018, however it is clear there is a strong development pipeline.

 

The full Skyline report is currently available to Metropolis clients. Further details on the Metropolis service can be found at http://www.metroinfo.co.uk.

Copyright Metropolis Property Research Ltd 2015

 

London West End Autumn 2015 – A Preview

Significant Demand In The Pipeline

This Metropolis blog breaks new ground with an attempt to give clients an insight into the ‘work in progress’ on forthcoming office requirements in the London West End market. In the spirit of those TV autumn trailers, we set out below a flavour of some of the stories we hope to bring Metropolis clients over the next two months.

Some Background

Outstanding, unsatisfied, named office requirements in central London are now estimated by Metropolis to be over 10m sq ft, which is the highest figure since the recession. This can only be an approximate figure as ‘requirements’ cover all types of searches from urgent ones involving tenants in buildings where the lease expires ahead of demolition to half-hearted searches by occupiers who are 90% sure that they will renew the lease, but want to compare the market in order to put some pressure on the existing landlord.

Many of the larger requirements (over 20,000 sq ft) are in advance of lease expiries in 2017-19. However, smaller searches below 10,000 sq ft, are often launched less than 18 months before lease expiry. In many cases the occupier is only looking because it needs more space, has a lease end, or it is affected by redevelopment. The costs of relocation tend to limit the number of ‘sideways moves’ involving a company relocating from one building to another, whilst keeping its occupancy size the same.

Recent West End Activity

Office relocation  activity in London’s West End has been a little muted so far in 2015. Figures compiled by Metropolis show Central London take-up in the 8 months to August was 7.6m sq ft, of which only 2m sq ft was to office space in the West End. Some 140,000 sq ft has been pre-let, 450,000 sq ft is grade A newly completed space, with the remainder secondhand.

Some of the larger deals have included Marshall Wace Asset Management’s 43,000 sq ft pre-let of 131 Sloane Street in Knightsbridge; Richemont’s 38,000 sq ft deal at Walmer House on Regents Street and just last month King.com’s letting of 65,000 sq ft at the recently-completed Ampersand Building on Oxford Street. Facebook is also set to confirm its 217,000 sq ft pre-letting of the under construction Rathbone Square in London, W1, which will be the largest West End letting this year.

What’s Coming Up

We are currently researching a number of promising West End leads which look likely to result in 40 named requirements and potentially 1.6m sq ft of office deals.

The majority of office requirements are for a move in 2016 (29), with the remainder lining up moves for 2017 or 2018. Some 23 occupiers are citing expansion as the trigger for their move, while 16 have lease events and the remainder are consolidating fragmented buildings or downsizing.

In terms of the sector, as the graph below shows, it is the media sector which dominates, followed by IT/e-commerce and financial services, including hedge funds and asset managers. The business services sector also remains important with a steady stream of new requirements from serviced office operators.

 

 

 

 

 

 

 

Around a quarter of companies are looking in the core areas of Mayfair and St James’s, with a further quarter searching in Victoria. A further 25% are searching Soho and north of Oxford Street up to Kings Cross and Euston with the remainder looking in fringe areas such as Camden or Hammersmith.

By size, around half of the 40 requirements are below 20,000 sq ft, with a third between 20,000 and 50,000 sq ft and the remaining five searches are over 100,000 sq ft.

In Conclusion

There is a healthy pipeline of new requirements being launched in London’s West End this autumn. As would be expected, media companies, hedge funds and asset managers are very active, but these have been joined by some of the large e-commerce and social network companies and business service providers to increase the competition for space. Metropolis is working to research the details of these requirements and will be publishing these online for clients shortly.

 

Copyright Metropolis Property Research Ltd 2015

Metropolis Office Requirements – H1

Over 450 companies vie for London space

 

 

 

 

 

 

 

Metropolis research identified over 17m sq ft of UK office demand in the first half of 2015. Just over 9.2m sq ft of this demand was for office space in Greater London, with over 450 companies searching for London space. In the rest of the UK Metropolis uncovered 400 requirements for new space representing 8.1m sq ft of office demand.

Central London office demand reached 8m sq ft, 3.8m sq ft (47.5%) of which was focused on the City of London. EC2 was the most popular postcode for companies planning a move,  with 1.4m sq ft of demand emerging in H1.

A significant proportion of total City of London demand (11%) came from two new law firm requirements, each firm looking for 200,000 sq ft. A new 150,000 sq ft requirement from an insurance group was also worthy of note. Demand from the banking and finance sector reached 1m sq ft, 26% of total City of London demand.

Demand for space in the West End, where rents can reach £125 psf, hit 1.8m sq ft. The largest West End requirement (150,000 sq ft) came from a social media group looking for offices in SW1. Just over 400,000 sq ft of office space (26% of total demand) was required by the banking & finance sector, 79% of which (315,000 sq ft) came from hedge funds and private investment firms.

Mid Town office demand reached 0.9m sq ft, pretty evenly split between WC1 and WC2. About 100,000 sq ft of Mid Town demand came from the technology sector and 90,000 sq ft from the media sector. Demand from law firms was just over 120,000 sq ft and demand from the banking and finance sector totalled 110,000 sq ft.

The largest office requirement in the South Bank (SE1) was a 140,000 sq ft search by an engineering and construction firm. Other requirements of note include a US insurance firm switching a 60,000 sq ft search from Maidenhead to London SE1, and a TV Broadcaster looking for 30,000 sq ft to house its news department.

Two big requirements dominated demand for office space in the Docklands: a German investment bank back office requirement for 350,000 sq ft and an information company requirement for 300,000 sq ft, with a sub-let mooted.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The Top 5 Regional Cities

Manchester – The largest requirement, 400,000 sq ft, was a search by a government department considering space near Piccadilly Station in Manchester. Just over 250,000 sq ft of Manchester office demand came from the legal sector and 300,000 sq ft of demand was attributed to the insurance sector.

Edinburgh – Similar to the picture in Manchester, Edinburgh demand was dominated by a large government requirement for office space (300,000 sq ft), although this requirement could move to Glasgow. In terms of private sector demand, notable requirements included a 100,000 sq ft search by a US Bank and two significant searches from law firms seeking a move in central Edinburgh, one for 50,000 sq ft and the other 30,000 sq ft. There was also significant demand from the accountancy sector, with four firms searching for just over 130,000 sq ft.

Birmingham – A retail bank was linked with the largest office requirement in Birmingham: 170,000 sq ft,  a search now satisfied by space at Miller Developments Arena Central scheme.  Other significant requirements include a potential 100,000 sq ft search from a law firm and a 50,000 sq ft search from a business education group.

Reading – The largest requirement for Reading offices came from a network broadcaster looking for 150,000 sq ft, closely followed by a utility company searching for 140,000 sq ft. Both requirements also consider other Thames valley locations such as Bracknell, Farnborough and Slough.

Bristol – Bristol office demand was dominated by insurance company requirements, with the sector accounting for 56% of total demand (280,000 sq ft). Other notable requirements include an 80,000 sq ft search from a Bristol based law firm planning to combine two of its offices (which may now be a refurbishment and extension of the existing building) and an engineering group searching for 25,000 sq ft.

 

Top Ten Cities (Excluding London) by H1 Office Demand

 

 

 

 

 

 

 

 

 

 

Copyright Metropolis Property Research Ltd 2015

 

 

Central London Office Lettings 2014

Best Year For Deals Since 2007

Metropolis has recently published its latest client newsletter, this month a special report on central London office lettings in 2014. Highlights include:

– Central London deals hit 12.8m sq ft, up 5% on 2013 take-up
– 14 deals were over 100,000 sq ft
– Metropolis is tracking over 700 central London office requirements
– Just over 2m sq ft currently under offer

The newsletter was provided exclusively to Metropolis clients. If you are interested in finding out how Metropolis could help your company win new business please visit us at http://www.metroinfo.co.uk.

Metropolis 2014 Lead Research Review

1,000 new office requirements

The Metropolis research team produced a total of 6,154 relocation, construction and refurbishment leads in 2014. Over 26% of these were active UK office space requirements, in line with 2013 and 2012 research results. 1,613 office requirements were confirmed in total, with 1,000 new office requirements uncovered by our research. New office requirements accounted for 22.5m sq ft of UK office demand.

60% of Metropolis leads were projects located in the South of the UK (61% in 2013, 63% in 2012, 61% in 2011, 2010 and 62% in 2009), with 40% of lead projects located in Wales, the Midlands, North, Scotland and Northern Ireland. Greater London projects represented 48% of the 2014 lead total, 3% above the 2013 proportion.

 

 

 

 

 

 

 

In Greater London, Metropolis identified just over 18m sq ft of new requirements for offices, with over 800 companies looking for new space. Just over 14m sq ft of this demand was for central London space. The top 5 most sought after postcodes areas by demand were: EC2 (3m sq ft), EC3 (2m sq ft), EC4 (1.6m sq ft), E14 (1.5m sq ft) and W1 (1.4m sq ft).

Office relocation and refurbishment activity continues to be strong in the North West of the UK. Metropolis identified 1.2m sq ft of new office demand in the region, 61% of which was demand for Manchester space. The largest requirements emerged from banking and IT companies.

In the South East (excluding London), the largest office relocation and refurbishment projects were located in Buckinghamshire and Oxfordshire. Demand for new office space in the South East reached 2.4m sq ft and 39% of this demand was for offices in Berkshire.

Leads numbers in Scotland were 28% down on 2013’s record result (120% up on 2012), however the region is still the UK’s 4th most active according to our research. Metropolis identified 800,000 sq ft of new office demand in Scotland as a whole in 2014, 50% of which was centered on Edinburgh.

In Yorkshire and Humberside, just under 700,000 sq ft of new office requirements were identified, with 71 companies looking for new space. Demand for new space in Leeds accounted for just over 500,000 sq ft.

West Midlands lead numbers were largely on par with results over the past three years. Just under 0.5m sq ft of new demand was identified in Birmingham.

In the South West, just under 700,000 sq ft of new office demand was identified. Bristol was the preferred location for large government, education, energy and insurance company moves. Office take-up in Bristol last year reached 1.2m sq ft.

Lead numbers in the North jumped by 22%, the highest number of relocation, refurbishment, and construction projects recorded in that region since 2011. 23% of office demand in the region centered on Newcastle-upon-Tyne.

 

 

 

 

 

 

 

 

 

 

 

UK Lead Projects by Size

55% of Metropolis leads in 2014 reported on projects over 10,000 sq ft. 46% of leads were made up of projects between 5,000 sq ft and 30,000 sq ft. 74% of leads covered projects over 5,000 sq ft. The increase in lead projects between 1 and 2,000 sq ft was influenced by a significant number of central London office, residential and hotel redevelopment schemes unseating existing tenants.

 

 

 

 

 

Top 10 Business Sectors – UK Relocation and Refurbishment Projects

The Banking & Finance Sector leapt ahead of Technology & Telecoms in 2014 and was the strongest UK business sector in terms of relocation and refurbishment projects. Lead numbers within this sector grew by 7% when compared to 2013, the strongest showing in the last five years. The largest requirements in this sector were unsurprisingly targeted at London space. Four of the top five office requirements were searches by Banks in the City of London. Banks & Financial service companies also had 50,000 sq ft + requirements for office space in Birmingham, Manchester, Southampton and Bristol.

 

 

 

 

 

Newly identified demand for office space from Technology and Telecoms companies in the UK hit 2.1m sq ft last year. Requirements for space in London accounted for 50% of this figure. The largest searches for offices outside of London targeted Slough, Glasgow, Warrington, Manchester and Oxford. Office demand from media sector companies, often grouped with Technology and Telecoms under the banner “TMT”, reached 1.5m sq ft. London, particularly SW1 and WC2, was the overwhelmingly preferred location for this sector.

The top ten law firm office relocation projects by size were all located in central London, predominantly the City, particularly London EC4 and EC2. However there were two 70,000 sq ft + requirements for space from this sector in Leeds and a 100,000 sq ft requirement in Manchester.

The industry consensus is that London and the south east outpaced the rest of the UK in 2014 as they are further ahead in the cycle, but the predictions are that the regions will begin to pick up in 2015. This is likely to drive an increase in speculative developments and a rise in rents, which will in turn lead to more demand for offices in regional cities. In London, availability will fall again leading to more development and more relocations to fringe central London locations.

Copyright Metropolis Property Research Ltd, January 2015

 

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UK Office Requirements H1 2014

 

 

 

 

Banking and Finance leads the way

The UK office market continues to show promising signs of recovery.  Office deals in London could exceed 13m sq ft by the end of this year and Metropolis H1 2014 research has identified over 300 companies actively searching for central London office space.

Over half of the 10m sq ft required in central London is fueled by the City, where 169 companies search for a total of 5.7m sq ft.  Notable City of London requirements include a 300,000 sq ft search by a UK investment and asset management firm and a 250,000 sq ft law firm search prompted by consolidation of two offices.

Demand for space in the West End, once again the most expensive office location in the world (CBRE Global Research), was 1.3m sq ft in the first six months of 2014, with 1.2m sq ft required in Mid Town. Two of the top three West End requirements by size originate from major advertising companies.

Law and media sector requirements dominate Mid Town demand, with over 200,000 sq ft required by law firms and 250,000 sq ft required by media agencies.

1.4m sq ft of demand was researched in Docklands and 0.4m sq ft of demand was researched in South Bank, where rents on new schemes have recently reached £50 psf.

Our UK research as a whole identified over 700 companies searching for a total of 20m sq ft, 16m sq ft in the South of the UK and 4m sq ft in Wales, Midlands, North and Scotland.

The Banking & Finance sector is leading the demand for new UK offices, with just over 3.6m sq ft of requirements in the UK, 2.6m sq ft of which is sought in the City of London. The Technology and Telecoms sector accounts for 2.1m sq ft of UK demand, Law 2m sq ft and Media 1.8m sq ft.

 

 

 

 

 

 

 

 

 

 

 

 

 

1m sq ft of office demand was identified in the North West, 0.6m sq ft of which was attributed to Manchester.  The Manchester office market is looking lively, with take-up reaching 800,000 sq ft in H1, making it the strongest regional performer.

Just under 1m sq ft of demand was identified in the Yorkshire and Humberside region, with 70% of searches focused on Leeds. Notable requirements in Leeds include a 70,000 sq ft law firm search and a 60,000 sq ft search by a major accountancy firm.

Just under 500,000 sq ft of demand was identified in both Birmingham and Edinburgh. Two of the largest requirements in Birmingham were law firm searches for about 30,000 sq ft and a major accountancy firm was also linked with a requirement for 50,000 sq ft.

In Edinburgh, the majority of office requirements were for less than 10,000 sq ft, although a 75,000 sq ft requirement from a computer games studio and a 40,000 sq ft law firm search were notable exceptions.

After an encouraging start to 2014 UK office demand looks set to comfortably outstrip its 2013 levels. In central London, notable office searches include requirements from Societe Generale, Wells Fargo and National Grid.

In Manchester, H1 office deals include lettings to Slater Gordon, Trader Media and Barclays Bank. Bristol and Edinburgh also saw a better than average six months, with a number of requirements, including Ovo Energy in Bristol due to come to fruition in the second half of 2014.

Birmingham also has a number of requirements from law firms and accountants including BDO. In Glasgow, searches by Cigna and National Rail are expected to complete soon. Cardiff has seen some activity at its new schemes, while Liverpool has seen a number of midsize deals.

 

 

 

 

 

 

 

Simon Sluszny 2014, (C) Metropolis Property Research Ltd