Office lettings and sales in Q1 were buoyant, masking the threat from the corona crisis. This is partly due to a change in methodology, as we now count pre-lets in take-up contemporaneously and not at building completion. Three sizeable deals drove take-up that was better than average for first quarters. Vacancy was unmoved early in the year at a
very low 3.4%. Prime rents, though, ticked upwards in the CBD and in Cloche d’Or to new highs. Investment counted €736 million of transaction activity, marked by diverse deals across a range of real estate sectors.