Despite a turbulent year politically and economically Central London take-up in 2017 was 7% higher than both the previous year and the 10-year annual average. In the final quarter of 2017 take-up was 3.8m sq ft (10-year average: 3.1m sq ft), bringing the full-year total to 13.2m sq ft.
Availability fell to 13.7m sq ft. The vacancy rate increased to 4.7%. Under offers fell to 3.1m sq ft but remained above the 10-year average. Prime rents fell marginally in the City but remained unchanged elsewhere.