LOMA full-year submarket league tables 2019: JLL triumphs in the City core

EG’s London Office Market Analysis uses Radius Data Exchange to reveal the top-performing agents and submarkets during 2019. City Core JLL triumphed in the City Core once again, coming out on top for both square footage disposed and transactional volume, with just over 1.5m sq ft let across 88 individual deals enough to secure a 34% market share. JLL’s largest deal involvements during 2019 came in letting 99,300 sq ft to Convene at 22 Bishopsgate, EC2, alongside second-placed CBRE; as well as acting on the 93,800 sq ft deal for Quilter at Senator House, EC4, which it let jointly with ninth-placed Allsop. Cushman & Wakefield jumped into third place thanks largely to acting on the two largest deals in the City Core this year: 122,300 sq ft to Monzo Bank at Broadwalk House, EC2, alongside fifth-placed Knight Frank; and 116,100 sq ft to Brewin Dolphin at 25 Cannon Street, EC4. See also: LOMA Q4 2019: Confidence returns as clarity emerges City Fringe Colliers International won three out of four quarterly titles in the City Fringe submarket this year, underpinning the retention of this annual title; secured through acting on 569,000 sq ft to achieve a 30% market share. Last year, Colliers won by a margin of almost 300,000 sq ft from the second-place finisher; but it was a closer run thing this time – with Cushman & Wakefield pushing Colliers all the way thanks largely to acting alongside CBRE and BH2 on the 328,000 sq ft prelet to BT at One Braham, E1. That deal was the largest in the City Fringe this year by more than 250,000 sq ft; so it’s a testament to Colliers’ sheer volume of activity that it managed to retain its position at the summit this time around. The recent 63,800 sq ft letting to Checkout.com at Wenlock Works, N1, was the largest of its 93 individual deals completed in 2019. Docklands CBRE held onto first place in the Docklands league table this year, advising on more than 586,000 sq ft to claim a 49% market share; while BH2 climbed from fourth place last year to second in 2019, acting on 514,500 sq ft to secure 43% of the market. Unsurprisingly, the mammoth letting at Heron Quays West 2, E14, to the European Bank for Reconstruction and Development was hugely influential in the league table – with the top three firms all jointly acting on that 360,000 sq ft deal. Crucial to CBRE winning overall was in advising on the 72,200 sq ft deal for Spaces at 25 Cabot Square, E14, which it let jointly with fifth-placed Knight Frank and seventh-placed Squarebrook. Midtown CBRE jumped from third place in 2018 to claim top spot in Midtown this time around, letting almost 350,000 sq ft to claim a 27% market share. Savills retained the second place it claimed last year with an 18% share of the market; while Farebrother maintained its position as the most active agent in Midtown by deal volume – completing 37 individual transactions spanning nearly 213,000 sq ft to claim a 16% market share and third place. Nationwide’s 88,700 sq ft letting at the Post Building, WC1, was critical to CBRE’s victory – it acted on that alongside fifth-placed JLL and eighth-placed Pilcher Hershman; while Savills jointly disposed of the largest transaction in Midtown this year alongside Cushman & Wakefield – the 133,000 sq ft deal for Sony at Handyside Street, N1. Southern Fringe Union Street Partners once again came out on top for both amount of space disposed and transactional volume in the Southern Fringe, acting on just over 195,000 sq ft across 37 individual deals to claim a 36.5% market share. Underpinning the victory was the 33,000 sq ft deal to Sustainable Workspaces at 25 Lavington Street, and the recent 24,000 sq ft letting to Square Enix at 240 Blackfriars Road, both SE1. JLL climbed from third place last year to second this time around with 85,800 sq ft in disposals enough to secure a 16% market share, while BNP Paribas Real Estate jumped from seventh in last year’s reckoning to third in 2019, claiming a 15% market share via 80,800 sq ft in disposals. West End In an incredibly close-run thing, Knight Frank climbed from third in last year’s table to take the annual victory in the West End; acting on just over 800,000 sq ft of disposals to secure a 24% market share. CBRE also topped the 800,000 sq ft mark for space disposed, and was the most active agent this year by deals volume – completing 68 individual lettings across 2019. Knight Frank acted on six out of the largest seven individual deals in the West End this year, including the 102,500 sq ft letting to G-Research at 1 Soho Place, W1, alongside fourth-placed JLL and third-placed Cushman & Wakefield. Tuckerman climbed from ninth place last time out to breach the top five in 2019; helped largely by its involvement in the 96,000 sq ft letting to Parliamentary Estates at Westminster City Hall, SW1, on which it jointly disposed with Knight Frank.   To send feedback, e-mail graham.shone@egi.co.uk or tweet @GShoneEG or @estatesgazette