It’s all change at the top of the Cardiff office agents league table as 126,000 sq ft of disposals put Knight Frank back in front after dropping to third last year.
The firm was involved in 35 deals securing 17% of the market, with its biggest deal a 11,000 sq ft letting to Aon Benfield at 2 Callaghan Square [main picture].
Cushman & Wakefield and Savills slip down one place, taking second and third respectively.
The largest office deal transacted in 2017 was also Cardiff’s biggest ever office letting – a 266,000 sq ft pre-let to HMRC at 6 Central Square.
The acquisition, a result of the HMRC’s continuing restructuring efforts, accounts for 37% of total take-up in 2017, increasing take up in the Central & Local Government sector from 10.1% in 2016.
Take up in the Education sector also saw significant growth in 2017, making up 17.7% of total take up, notable deals in this sector were:
- 54,000 sq ft let at One Canal Parade to Cardiff & Vale College by Cushman & Wakefield.
- 44,600 sq ft pre-let at 2 Central Square to Cardiff University.
Overall, take-up has fallen by 3.5% year on year to 724,000 sq ft. Deal volume was down by 23%, however, this was offset by average deal size increasing by 26% to 6,300 sq ft.
