Cushman & Wakefield has rocketed to the top of EG’s London Office League table in the first quarter of 2016.
Disposing of 825,000 sq ft of space, the agent is reaping the rewards of its tie-up with DTZ and also managed to take the top spot in three London sub-markets – which will be revealed tomorrow in the full Estates Gazette London Office Market Analysis.
Second place Knight Frank also put in a strong showing for the quarter, elbowing its way past CBRE and JLL to take second place in the league, disposing of just under 659,000 sq ft of space.
Thomson Reuter’s sub-letting of 316,000 sq ft at 5 Canada Square, E14, the largest deal of the quarter, attributed for more than half of its total.
Filling out the rest of the top five were CBRE, GM Real Estate and JLL, in a period that saw take-up for the quarter remain steady, despite growing caution in the market.
The disposal total of 3.1m sq ft was 6% up on Q1 2015 and well above the five-year Q1 average.
However, it was down 27% on Q4 2015, and agents reported a slowing due to EU referendum and wider macro-economic fears, which could lead to a deeper drop in Q2.
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