LISTEN: JLL’s Neil Prime, lead director of UK office agency and Mike Davis, director of London Unlimited were among the speakers at the JLL Central London Office Market Seminar on Tuesday. The mood was one of optimism with Prime saying yields will continue to remain stable through 2016 but stock selection will be important for investors to attract the right occupiers.
He added that the shortfall in offices would lead to robust rental growth with continued occupier migration scheduled for the foreseeable future.
A rise in prelets is predicted as a way of occupiers satisfying future need and there is still an opportunity for building or refurbishment.
Davis added that buildings with good amenities will outperform and there are retail opportunities in non-core markets due to footloose occupiers.
Other speakers at the event were director of UK research Ben Burston, who gave economic context, Capital Markets directors Julian Sandbach and Rob Jackson and directors of office agency, Daisy Hunt and Hunter Booth.
shekha.vyas@estatesgazette.com
