LOMA 2016: Offices breakdown by submarket

The West End, City, Midtown and Docklands leasing crowns all went to CBRE in 2016, as the American agency took a stranglehold on the London submarkets. Acting on market-leading deals in the Docklands and the West End, its City total was boosted by the 183,000 sq ft letting of Bracken House, EC4, to the Financial Times, while it acted on the second largest deal in midtown, the 62,000 sq ft letting to WeWork at Aldwych House, WC2. Of the remaining two submarkets: the City Fringe went to Colliers International – its take-up boosted by the acquisition of Hatton Garden RE in January, while Union Street Partners took the South Bank acting as joint agents with CBRE on the 73,000 sq ft letting to WeWork at the South Bank Tower, SE1. The massive shake-up caused by the referendum caused take-up to fall in all but the Docklands and South Bank markets, which were boosted by some lumpy deals. But over the year, sub-market take-up varied hugely. By Q4, take-up in the City was 34% higher than in 2015, while West End take-up was down by 59%. “Where we see the world at the moment, there has been a step change in the pace of the market,” says David Hanrahan, director and co-head of London offices at Colliers International. “The market in my mind was topping out at the end of 2015, in anticipation of Brexit, then cooler throughout 2016, with a few deals in the final quarter.” City core View Pictures/REX/Shutterstock TOP AGENTS BY SUBMARKET 2016 Position Agency Disposed (sq ft) No of deals Market total (sq ft) Share 1 CBRE 1,101,573.68 60 3589142.32 31% 2 Cushman & Wakefield 883,048 62 3589142.32 25% 3 JLL 763,190.79 68 3589142.32 21% 4 Knight Frank 605,953 26 3589142.32 17% 5 Savills 458,366 40 3589142.32 13% 6 GM Real Estate 304,320 11 3589142.32 8% 7 BNP Paribas Real Estate 269,221.74 31 3589142.32 8% 8 Gerald Eve 261,489 4 3589142.32 7% 9 Strutt & Parker 174,299 21 3589142.32 5% 10 Ingleby Trice 144,410.68 23 3589142.32 4% 11 Newton Perkins 123,413.51 31 3589142.32 3% 12 Allsop 92,641 11 3589142.32 3% 13 Gryphon Property Partners 81,330 5 3589142.32 2% 14 James Andrew International 75,272 5 3589142.32 2% 15 Hall Kemp 63,310 22 3589142.32 2% 16 GVA 54,810 7 3589142.32 2% 17 BBG Real Estate Advisers 36,115 7 3589142.32 1% 18 Spring4 32,666 9 3589142.32 1% 19 Kinney Green 22,032 2 3589142.32 1% 20 Monmouth Dean 21,880.76 5 3589142.32 1% 21 Farebrother 18,114 6 3589142.32 1% 22 Matthews & Goodman 16,077 6 3589142.32 0% 23 Colliers International 15,458 5 3589142.32 0% 24 Juniper Real Estate 12,022 1 3589142.32 0% 25 Squarebrook 11,997 2 3589142.32 0% 26 DeVono Cresa 11,935 2 3589142.32 0% 27 J Peiser Wainwright 7,496 2 3589142.32 0% 28 Deloitte Real Estate 7,059 1 3589142.32 0% 29 Hartnell Taylor Cook 5,776 3 3589142.32 0% 30 Anton Page 4,415 1 3589142.32 0% 31 Eddisons 4,228 1 3589142.32 0% 32 Capita 2,561 2 3589142.32 0% 33 Ostroumoff 2,511 1 3589142.32 0% 34 Dron & Wright 2,411 1 3589142.32 0% 35 White Druce & Brown 2,219 1 3589142.32 0% 36 Mellersh & Harding 1,182 1 3589142.32 0% City fringe View Pictures/REX/Shutterstock TOP AGENTS BY SUBMARKET 2016 Position Agency Disposed (sq ft) No of deals Market total (sq ft) Share 1 Colliers International 606,043.43 87 1,887,576.24 32% 2 Cushman & Wakefield 560,182.34 25 1,887,576.24 30% 3 BNP Paribas Real Estate 263,648 12 1,887,576.24 14% 4 Allsop 248,657.14 18 1,887,576.24 13% 5 GM Real Estate 214,528 9 1,887,576.24 11% 6 Anton Page 179,765.68 64 1,887,576.24 10% 7 Savills 148,732 10 1,887,576.24 8% 8 JLL 137,161 9 1,887,576.24 7% 9 Pilcher Hershman 116,247 7 1,887,576.24 6% 10 CBRE 112,305 7 1,887,576.24 6% 11 Hall Kemp 110,572.34 10 1,887,576.24 6% 12 Ingleby Trice 101,953 6 1,887,576.24 5% 13 Stirling Ackroyd 95,568.60 36 1,887,576.24 5% 14 Richard Susskind & Co 93,242.12 27 1,887,576.24 5% 15 Knight Frank 58,144 6 1,887,576.24 3% 16 Strettons 53,064.67 17 1,887,576.24 3% 17 Ashwell Rogers 28,000 1 1,887,576.24 1% 18 Deloitte Real Estate 23,777 1 1,887,576.24 1% 19 Farebrother 20,518 7 1,887,576.24 1% 20 Hanover Green 15,002 4 1,887,576.24 1% 21 Paul Belchak & Company 14,641 4 1,887,576.24 1% 22 Monmouth Dean 14,127 4 1,887,576.24 1% 23 Crossland Otter Hunt 13,790 5 1,887,576.24 1% 24 Copping Joyce Chartered Surveyors 13,403 2 1,887,576.24 1% 25 Dron & Wright 13,369 6 1,887,576.24 1% 26 Jarvis Keller Stephens 11,246 1 1,887,576.24 1% 27 Kinney Green 10,719 1 1,887,576.24 1% 28 BBG Real Estate Advisers 9,762.17 4 1,887,576.24 1% 29 Brecker Grossmith 8,434 1 1,887,576.24 0% 30 GVA 8,098 2 1,887,576.24 0% 31 Daniel Watney 7,778 1 1,887,576.24 0% 32 Currell Commercial 7,626 4 1,887,576.24 0% 33 Edward Charles & Partners 7,367 2 1,887,576.24 0% 34 Morgan Pryce 7,080 1 1,887,576.24 0% 35 Dominion Commercial Property Agents 6,738 1 1,887,576.24 0% 36 Feiner deSmith 6,437 4 1,887,576.24 0% 37 Strutt & Parker 6,372.21 2 1,887,576.24 0% 38 Lorenz Consultancy (The) 6,326 2 1,887,576.24 0% 39 Robert Irving Burns 4,926 3 1,887,576.24 0% 40 Thompson Yates 4,628 2 1,887,576.24 0% 41 James Andrew International 4,157 1 1,887,576.24 0% 42 Matthews & Goodman 3,429 1 1,887,576.24 0% 43 Stilring Ackroyd 2,640 1 1,887,576.24 0% 44 Tarn & Tarn 2,608 1 1,887,576.24 0% 45 Lonic 2,340 1 1,887,576.24 0% 46 PSK Knighton 2,120.51 1 1,887,576.24 0% 47 dohertybaines 1,400 1 1,887,576.24 0% 48 Krystal Estates 1,250 1 1,887,576.24 0% Docklands Design Pics Inc/REX/Shutterstock TOP AGENTS BY SUBMARKET 2016 Position Agency Disposed (sq ft) No of deals Market total (sq ft) Share 1 CBRE 674,825 16 1,313,662.50 51% 2 Knight Frank 421,773.52 5 1,313,662.50 32% 3 Cushman & Wakefield 235,596.47 13 1,313,662.50 18% 4 GM Real Estate 109,978 17 1,313,662.50 8% 5 Cherryman 83,875.97 12 1,313,662.50 6% 6 JLL 77,016 15 1,313,662.50 6% 7 Gryphon Property Partners 29,191 2 1,313,662.50 2% 8 Dobbin & Sullivan 5,339 1 1,313,662.50 0% 9 Strutt & Parker 4,015 1 1,313,662.50 0% 10 sbh Page & Read 3,878 1 1,313,662.50 0% 11 Dron & Wright 3,177 2 1,313,662.50 0% Midtown Ray Tang/REX/Shutterstock TOP AGENTS BY SUBMARKET 2016 Position Agency Disposed (sq ft) No of deals Market total (sq ft) Share 1 CBRE 422,886 36 1,535,847.95 28% 2 Savills 410,641 18 1,535,847.95 27% 3 Farebrother 344,253 40 1,535,847.95 22% 4 Cushman & Wakefield 286,355 14 1,535,847.95 19% 5 JLL 250,106.93 14 1,535,847.95 16% 6 Colliers International 144,109 25 1,535,847.95 9% 7 Edward Charles & Partners 101,031.43 12 1,535,847.95 7% 8 Knight Frank 59,975 9 1,535,847.95 4% 9 Bluebook 58,474 7 1,535,847.95 4% 10 Gerald Eve 54,708 5 1,535,847.95 4% 11 GM Real Estate 52,344 7 1,535,847.95 3% 12 Crossland Otter Hunt 25,056 2 1,535,847.95 2% 13 Gryphon Property Partners 22,176 2 1,535,847.95 1% 14 Strutt & Parker 21,679 5 1,535,847.95 1% 15 HNG 18,933 3 1,535,847.95 1% 16 Fresson & Tee 16,617 5 1,535,847.95 1% 17 Monmouth Dean 16,379.09 3 1,535,847.95 1% 18 Deloitte Real Estate 14,996 2 1,535,847.95 1% 19 Daniel Watney 12,786 4 1,535,847.95 1% 20 Allsop 11,699 5 1,535,847.95 1% 21 Carter Jonas 11,234 3 1,535,847.95 1% 22 Hanover Green 10,510 4 1,535,847.95 1% 23 HMC Surveyors 10,360 2 1,535,847.95 1% 24 Michael Boardman & Associates 6,996.43 2 1,535,847.95 0% 25 Anton Page 6,760 2 1,535,847.95 0% 26 BDG Sparkes Porter 5,553 1 1,535,847.95 0% 27 BNP Paribas Real Estate 5,368 4 1,535,847.95 0% 28 Gale Priggen & Co 5,300 1 1,535,847.95 0% 29 Beacon Wood 5,000 1 1,535,847.95 0% 30 Levy 3,538 3 1,535,847.95 0% 31 Thompson Yates 3,492 1 1,535,847.95 0% 32 Fletcher King 3,207 1 1,535,847.95 0% 33 GVA 3,141 1 1,535,847.95 0% 34 Mellersh & Harding 2,958 1 1,535,847.95 0% 35 Metrus 2,744.82 1 1,535,847.95 0% 36 DeVono Cresa 2,594 1 1,535,847.95 0% 37 Wright & Partners 1,870 1 1,535,847.95 0% 38 Workplace Company (The) 1,625 1 1,535,847.95 0% 39 Matthews & Goodman 1,272 1 1,535,847.95 0% 40 Richard Susskind & Co 1,259.39 1 1,535,847.95 0% 41 Kinney Green 1,155 1 1,535,847.95 0% 42 Spring4 1,145 1 1,535,847.95 0% 43 Tuckerman 1,065 1 1,535,847.95 0% Southern fringe Jed Leicester/REX/Shutterstock TOP AGENTS BY SUBMARKET 2016 Position Agency Disposed (sq ft) No of deals Market total (sq ft) Share 1 Union Street Partners 253,654.98 27 790,041.4 32% 2 CBRE 199,358 11 790,041.4 25% 3 JLL 198,893.10 16 790,041.4 25% 4 Cushman & Wakefield 126,286 8 790,041.4 16% 5 Knight Frank 119,666 7 790,041.4 15% 6 Hall Kemp 44,474 1 790,041.4 6% 7 BNP Paribas Real Estate 31,721 3 790,041.4 4% 8 Colliers International 28,182.10 7 790,041.4 4% 9 Hanover Green 16,438 4 790,041.4 2% 10 Lambert Smith Hampton 13,872 4 790,041.4 2% 11 Levy 8,958 2 790,041.4 1% 12 Ingleby Trice 6,735 1 790,041.4 1% 13 Kalmars 4,866 2 790,041.4 1% 14 Capita 3,227 1 790,041.4 0% 15 Edward Symmons (now trading as Lambert Smith Hampton) 2,657 1 790,041.4 0% 16 Workplace Company (The) 2,588 1 790,041.4 0% 17 Crossland Otter Hunt 2,530 2 790,041.4 0% 18 Monmouth Dean 2,434 1 790,041.4 0% 19 Masons Property Advisers 2,406 2 790,041.4 0% 20 Anton Page 1,950 1 790,041.4 0% 21 BBG Real Estate Advisers 1,735 1 790,041.4 0% 22 Hiller & Partners 1,409 1 790,041.4 0% 23 BDG Sparkes Porter 1,409 1 790,041.4 0% 24 Turner Morum 1,200 1 790,041.4 0% West End High Level/REX/Shutterstock TOP AGENTS BY SUBMARKET 2016 Position Agency Disposed (sq ft) No of deals Market total (sq ft) Share 1 CBRE 622,639 86 2,645,608.51 24% 2 Cushman & Wakefield 367,318 35 2,645,608.51 14% 3 JLL 365,695.22 34 2,645,608.51 14% 4 Colliers International 330,119.12 49 2,645,608.51 12% 5 Knight Frank 280,028.53 40 2,645,608.51 11% 6 Strutt & Parker 275,911.29 34 2,645,608.51 10% 7 Tuckerman 273,526.38 55 2,645,608.51 10% 8 GVA 215,062.58 18 2,645,608.51 8% 9 Edward Charles & Partners 165,592 27 2,645,608.51 6% 10 Bluebook 127,803.96 20 2,645,608.51 5% 11 HMC Surveyors 104,499.75 4 2,645,608.51 4% 12 Monmouth Dean 102,307 36 2,645,608.51 4% 13 Deloitte Real Estate 91,721 3 2,645,608.51 3% 14 BNP Paribas Real Estate 79,732 16 2,645,608.51 3% 15 Savills 76,993 14 2,645,608.51 3% 16 GN2 72,269 5 2,645,608.51 3% 17 BDG Sparkes Porter 54,413.92 29 2,645,608.51 2% 18 Ashwell Rogers 48,513.15 15 2,645,608.51 2% 19 Mellersh & Harding 42,681 20 2,645,608.51 2% 20 Crossland Otter Hunt 42,166.93 20 2,645,608.51 2% 21 Gerald Eve 33,697.12 12 2,645,608.51 1% 22 Howard de Walden Estates 30,945.13 5 2,645,608.51 1% 23 Glinsman Weller 27,592.28 10 2,645,608.51 1% 24 Montagu Evans 23,844 5 2,645,608.51 1% 25 Cluttons 20,204.31 2 2,645,608.51 1% 26 Levy 18,156.22 7 2,645,608.51 1% 27 Robert Irving Burns 15,622.53 6 2,645,608.51 1% 28 Metrus 14,773 7 2,645,608.51 1% 29 Braham Good 14,335 2 2,645,608.51 1% 30 Allsop 13,119.86 6 2,645,608.51 0% 31 Newton Perkins 11,500.49 4 2,645,608.51 0% 32 Miles Commercial 10,982 3 2,645,608.51 0% 33 DeVono Cresa 10,721 3 2,645,608.51 0% 34 Pilcher Hershman 10,069 2 2,645,608.51 0% 35 Lambert Smith Hampton 9,337 2 2,645,608.51 0% 36 Lorenz Consultancy (The) 8,846 4 2,645,608.51 0% 37 David Menzies Associates 8,805 1 2,645,608.51 0% 38 Harper Dennis Hobbs 8,557 2 2,645,608.51 0% 39 Matthews & Goodman 7,716 1 2,645,608.51 0% 40 Capital Real Estate Partners 7,600 1 2,645,608.51 0% 41 Hanover Green 7,369 4 2,645,608.51 0% 42 Elsworth 5,900 1 2,645,608.51 0% 43 HNG 4,560 3 2,645,608.51 0% 44 Farebrother 4,096 1 2,645,608.51 0% 45 Martin Levy Commercial 4,055 1 2,645,608.51 0% 46 Savoy Stewart 4,012 1 2,645,608.51 0% 47 Koopmans 3,950 3 2,645,608.51 0% 48 Morgan Pryce 3,946 1 2,645,608.51 0% 49 Langham Estate Management 3,180.50 2 2,645,608.51 0% 50 Philip Wragg & Partners 3,014 1 2,645,608.51 0% 51 Capita 2,641 1 2,645,608.51 0% 52 Northam Clover 2,384 1 2,645,608.51 0% 53 Frost Meadowcroft 2,361 1 2,645,608.51 0% 54 Simon Korn Commercial Property Agents 2,015 1 2,645,608.51 0% 55 Cooper Chen 1,737 1 2,645,608.51 0% 56 Davis Brown 1,200 1 2,645,608.51 0% 57 Anton Page 1,078 1 2,645,608.51 0% • To send feedback, e-mail alex.peace@estatesgazette.com or tweet @egalexpeace or @estatesgazette LONDON OFFICES MARKET ANALYSIS Q4 2016   • Analysis – offices drop by 25% but rate of descent slows • Who is London’s top office agent? • London offices breakdown by submarket • London office investment down by 25% in 2016 • Who is London’s top Q4 agent? • Four things you need to know about the London offices market RELATED ARTICLES   • London Offices Market Analysis: Q3 2016 Take-up fell by more than a third in Q3 year on year and investment plunged to record lows. Is it a sharp shock post the Brexit vote or a sign of worse things to come?  • CBRE takes Q3 2016 London office crown Top 25 agents revealed amid EU referendum slowdown • London Offices Market Analysis: Q2 2016 • London Offices Market Analysis: Q1 2016