C&W takes over in Cardiff
Cushman & Wakefield has taken over as Cardiff’s top office agent, having transacted more than 250,000 sq ft in 2016.
The national agent was boosted by its role in two of the largest deals of last year: a 100,000 sq ft prelet to Hugh James Solicitors at Two Central Square and a 71,500 sq ft prelet at One Central Square to Motonovo Finance, according to EG’s regional office league tables.
C&W climb came at the expense of Knight Frank, which fell from first to third place last year following two years as the top office agent in Cardiff.
Rank 2016 (2015)
AGENT
TOTAL SPACE DISPOSED (SQ FT)
1 (2)
Cushman & Wakefield
251,435
2 (4)
Savills
188,767
3 (1)
Knight Frank
167,933
4 (5)
Cooke & Arkwright
146,496
5 (3)
Fletcher Morgan Chartered Surveyors
103,557
6 (6)
JLL
79,925
7 (7)
Lambert Smith Hampton
50,075
8 (-)
Anthony Phillips Chartered Surveyors
32,853
9 (9)
Emanuel Jones
28,548
10 (8)
Alder King Property Consultants
12,469
Total
1,062,057
Cushman & Wakefield has taken over as Cardiff’s top office agent, having transacted more than 250,000 sq ft in 2016.
The national agent was boosted by its role in two of the largest deals of last year: a 100,000 sq ft prelet to Hugh James Solicitors at Two Central Square and a 71,500 sq ft prelet at One Central Square to Motonovo Finance, according to EG’s regional office league tables.
C&W climb came at the expense of Knight Frank, which fell from first to third place last year following two years as the top office agent in Cardiff.
The top four agents, Cushman & Wakefield, Savills, Knight Frank and Cooke & Arkwright, dominated the Cardiff office market, having put together deals accounting for more than 70% of the office lettings in 2016.
Cardiff Office Disposals League Table 2017
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Savills transacted the most office deals, 36, but Cushman & Wakefield’s significantly higher average deal size helped it top the league table.
Overall take-up remained flat with 750,000 sq ft transacted in 2016. But the average deal size rose to 5,000 sq ft, a 6% year-on-year rise.
Click her for an interactive map to see all of this year’s Cardiff letting deals.
Cardiff’s office letting market 2016: key stats
Total space disposed: 751, 000 sq ft
Average deal size: 5,000 sq ft
Take-up: 750,000 sq ft; top ten agents accounted for 96% of all deals
Deal volume: 150
Largest deal: Cushman & Wakefield’s 100,000 sq ft prelet to Hugh James Solicitors at Two Central Square.
Going up: Cushman & Wakefield and Savills ascended the rankings to take the number one and two spots respectively. C&W’s dealings in the two biggest deals of the year helped secure it the top spot.
Going down: Knight Frank’s market share shrank to 16% from 23% last year, lowering the firm to number three this year after two year in the top spot.
