CBRE has scored an unprecedented hat-trick in EGi’s year-end London office agents league table.
The national giant ranked top for leasings, acquisitions and investment, disposing of 3.9m sq ft of space last year and completing £5.3bn of transactions.
In the leasing tables, it pipped JLL to the top spot for the third year in a row.
This was despite an incredibly strong showing in the mid ranks of the table, which saw a trio of London agents more than doubling the amount of space let this year.
Colliers International, Bilfinger GVA and GM Real Estate fuelled the mid ranks of the table with year-end totals more than two and a half times those of last year.
Overall, the London market saw a strong end to the year, with take-up reaching 14m sq ft – just shy of 2014’s 14.5m sq ft. Adding in Stratford, at 14.7m sq ft, the year registered one of the highest levels since EGi’s London Offices Market Analysis began.
That is tempered by falling supply, where an availability rate of 4.7% in quarter three slipped to 4.3% in Q4 – a level not previously seen.
“Last time we saw record lows the market started building, with 4.2m sq ft of space under construction in Q2 2007, today it is 1.8m sq ft, so the industry has learnt a bit from its mistakes,” said Victoria Bajela, head of EGi’s London Offices Research.
The last three months proved to be one of the strongest quarters, with financial and the property sector driving demand in the West End.
Read a full breakdown of the London Offices Market Analysis for 2015 and Q4>>
Click on the button in the graph below to change the view between sq ft, deals and market share. Hover over the bars to see absolute values.
