Western Corridor bounces back with 12% rise in deals

In a year that was notable for its lack of large transactions – just one over 50,000 sq ft – JLL took a commanding lead in EG’s Western Corridor league table. It improved its year-on-year take-up figures by a quarter, disposing of 517,000 sq ft across 47 deals, while average deal size overall fell 7% to 4,657 sq ft. Much of JLL’s success was down to a strong presence in the region’s business parks, with eight of its 10 largest deals coming from this sector. It was a west London office building that provided the largest deal overall, as online retailer Yoox Net-a-Porter took 70,500 sq ft at MediaWorks, White City Place; jointly brokered by Cushman & Wakefield and Knight Frank. Overall, take-up bounced back after two consecutive falls, rising to 3.6m sq ft. Going up Strutt & Parker stormed back to take second place. It can be assured of acquiring a strong commercial foothold with its BNP PRE partnership. Going down CBRE saw its take-up figures more than halved to 308,000 sq ft and acted on 15 fewer deals, resulting in a sixth-place finish. Key stats 3.61m sq ft: Total space disposed in 2017 – up 5% on 3.46m sq ft last year 4,657 sq ft: Average deal size – down 7% on 5,025 sq ft last year 777: Number of deals in 2017 – up 12% on 689 last year 51%: Top 10 agents accounted for 51% of the market – down 7% on last year 70,508 sq ft: Largest letting: to Yoox Net-a-Porter at MediaWorks, White City Place, W2