Savills has doubled its market share of the London office market and stormed up EG’s Q1 leaderboard.
The agent shot up four places in the top 25 rankings into third after finding tenants for more than 500,000 sq ft of space, including the largest deal of the quarter, Deloitte’s 275,000 sq ft letting of 1 New Street Square, EC4, which it acted for with CBRE. Its market share rose from 8.7% in Q4 to 15.5% last quarter.
“We have been consistently up there for a few years, but inevitably as the level of take-up declines because of the limited supply you will see more and more volatility in the league tables,” said Philip Pearce, executive director of Savills’ London office. “The real objective is to stay in the top three,” he adds.
That volatility caused a midrank shake-up among London’s top office agents, but failed to shift CBRE and JLL at the top. City specialists Newton Perkins burst into the top 10 with the help of a 42,000 sq ft signing at Furness House on Leadenhall St, EC3.
BNP Paribas’ share of the London market slipped this quarter from 10% in Q4 to just under 6% last quarter.
• City construction starts hit a seven-year high – click here to read the full story.
