Agent regains top spot despite a drop of 10%
Savills has reclaimed top spot in EG’s M25 office league table, having come third last year.
Pushing JLL into second place, Savills disposed of 592,000 sq ft across 40 deals and cemented its position by acting jointly with JLL on the largest deal in the market: the 184,000 sq ft letting to HMRC at Ruskin Square, Croydon.
The firm was also the only agent to register a top-five finish in each quadrant of the M25, notching up the largest average deal size at 14,800 sq ft and securing 17% of the market.
Savills has reclaimed top spot in EG’s M25 office league table, having come third last year.
Pushing JLL into second place, Savills disposed of 592,000 sq ft across 40 deals and cemented its position by acting jointly with JLL on the largest deal in the market: the 184,000 sq ft letting to HMRC at Ruskin Square, Croydon.
The firm was also the only agent to register a top-five finish in each quadrant of the M25, notching up the largest average deal size at 14,800 sq ft and securing 17% of the market.
Overall, take-up has fallen by a quarter year-on-year to 3,500,000 sq ft, despite some chunky deals.
Online retailers made their presence felt, snapping up big floorplates with Ocado taking 149,000 sq ft at Trident Place in Hatfield and ASOS moved into 73,000 sq ft at Leavesden Park, Watford; the second and third largest deals, respectively.
Going up
Hanover Green LLP increased its market share by a third on last year, leaping six places to third; scoring a victory in the South West quadrant with 200,000 sq ft disposed.
Going down
BNP Paribas Real Estate and Strutt & Parker. Both drop out of this year’s top 10. Amid market rumour of BNP PRE buying Strutts; a combined offer would still not have been enough to break into this year’s top bracket.
Key stats
Total space disposed: 3,516,455 sq ft, down 24% on 4,656,290 sq ft last year
Average deal size: 4,400 sq ft, down 7% on 4,727 sq ft
Deal numbers were down 19% on last year
Top 10 agents accounted for 52% of take-up, down 8% on last year
M25 Office League Table – disposals 01 April 2016 to 31 March 2017
Agent
Total space disposed (sq ft)
Number of deals
Average deal size
1 (3)
Savills
591,849
40
14,796
2 (1)
JLL
470,282
34
13,832
3 (9)
Hanover Green LLP
382,430
49
7,805
4 (-)
Knight Frank
341,222
32
10,663
5 (8)
Cushman & Wakefield
300,316
30
10,011
6 (5)
CBRE
230,793
21
10,990
7 (n/a)
Brasier Freeth
213,477
67
3,186
8 (n/a)
Colliers International
210,665
24
8,778
9 (n/a)
Dowley Turner Real Estate LLP
195,025
14
13,930
10 (6)
Lambert Smith Hampton
154,768
35
4,422
