Cluttons has released its London office market bulletin, spring 2017.
Apprehension is set to remain the central theme throughout London’s occupational office market during 2017, as the UK begins its two-year divorce proceedings from the EU.
So far this year, headline rental values and capital values have remained largely stable with no real change registered; however, this masks the fact that net effective rents continue to dip due to a rising number of lease incentives being offered by landlords.
Activity amongst overseas private investors, sovereign wealth funds and institutions remains healthy as we enter Q2. This is largely linked to the continued favourable benefits to these groups of investors from the weakness of sterling.