United Kingdom Office - The Property Perspective H2 2018
Highest Office take-up in a decade
Regional office occupier markets experienced record breaking take-up activity in 2018. Across the ten regional cities monitored by CBRE, overall take-up reached nearly 7.5m sq ft. This was 19% above the five-year average and 9% higher than 2017.
The South East also saw a significant uplift in occupier activity with 3.5m sq ft of office space acquired, the highest level in this market since 2007.
2018 saw record take-up from flexible office operators across the UK. This was the year the co-working revolution surged into the South East and regional cities with international, national and local operators all active.
Investor demand for offices around the UK also remained strong, with regional cities popular for a diverse pool of investors. Prime assets are by far the most popular but a lack of stock that meets this demand is an increasing issue.