Office space across central London has been running at below-average levels for five years, according to the latest Crane Survey from Deloitte Real Estate. The report paints a picture of short-term supply constraints offset by underlying longer-term demand for space, with the next development cycle accelerating from 2016. Read more about the London Office Crane Survey at: http://www.deloitte.co.uk/cranesurvey

1. Office Crane Survey Summer 2015
The
Why measure crane activity?
The Deloitte Real Estate Crane Survey measures office construction activity
in Central London. The results present a picture of the health of not just the
commercial property market, but of London as a whole.
Headline results
72Schemes under
construction
9.5msqft
of offices
under construction
37%
of space under
construction is let
2.6msqft
has completed
since last survey
0.4
Kings
Cross
1.3
Midtown
0.1
Paddington
0.7
Docklands
0.2
Southbank
2.3
West End
4.5
City
9.5
Total
Central London development pipeline million sq ft
Number of construction starts across central London
37
High
(2007)
4
Low
(2010)
31
Today
19
Average
5.1
Demolition levels are at
million sq ft
Three largest buildings in the survey
Largest new start
1Bank Street
688,000 sq ft
Largest new speculative
scheme under construction
1 Angel Court
300,000 sq ft
Largest building to complete
5 Broadgate
700,000 sq ft
Which sectors are taking space?
Leasing activity featured in this survey
Insurance
2%
Government
4%
Corporate
5%
Legal
5%
Financial
25%
TMT
49%
Professional
8%
Other
1%
www.deloitte.co.uk/realestate
www.deloitte.co.uk/cranesurvey
Download
the new London App
With the future of London literally at your fingertips, the New London
App is a must have for investors, property owners, developers or occupiers,
within the UK and internationally. There is simply no other tool in the
market with the capability to showcase London’s offer in this way and it is
set to revolutionise how the industry goes to market. London Office Crane
Survey data now added.
www.deloitte.co.uk/newlondonapp
To view the London development website visit:
www.newlondondevelopment.com