Brasier Freeth has emerged at the top of EG’s M1 office disposals league table after tripling its average deal size and acting on the three largest deals for the year.
The big-ticket deals helped the firm triple its like-for-like take-up figures to 151,000 sq ft. The largest deal was the 44,900 sq ft letting to Blackhawk Network Europe at Westside, Hemel Hempstead, acting jointly with Hanover Green.
The two firms were instructed by Alchemy Asset Management and Tristan Capital Partners. Four of the top eight deals overall were struck at the refurbished office complex.
The electronics sector was the largest occupier for the year ending May 2018, accounting for 19.3% of take-up.
Notable deals in this sector included the second- and third-largest overall: Harman International Industries taking 25,800 sq ft at Westside and Apple moving into 22,500 sq ft at Victoria Square, St Albans.
Take-up levels on the whole were muted. At 394,150 sq ft, total take-up is down by 31% on last year’s total with deal numbers dropping from 220 to 148.
Going up: Bidwells, which climbed three places to second after boosting its take-up figures by just over a third – helped by selling 252 Upper Third Street, Milton Keynes, to WD-40 Company along with Lambert Smith Hampton. The 22,300 sq ft sale was the largest deal in the region.
Going down: JLL, which fell seven places to tenth, just edging into the top ten with a solitary deal, jointly brokered with Louch Shacklock & Partners, for Monier Redland at Solaris House, Milton Keynes.
Key stats
■ Total space disposed 2018: 394,150 sq ft – 31% down (2017: 568,210 sq ft)
■ Average deal size 2018: 2,663 sq ft – up by 3% (2017: 2,583 sq ft)
■ Number of deals 2018: 148 – 33% down (2017: 220)
■ Top 10 agents account for 91% of the market – no change on last year.
■Largest letting: 44,899 sq ft: Westside, Hemel Hempstead to Blackhawk Network Europe in joint deal by Brasier Freeth and Hanover Green.
