South East Offices Snapshot Q3 2019

south east offices

Key highlights include:

  • Leasing activity this quarter has seen some occupier expansion, although consolidation or 'right-sizing' has been a more prevalent theme.
  • The 'summer slow-down' saw subdued take-up levels at 555,563 sq ft in Q3 across the South East; although, total take-up levels year-to-date remain strong at 2,000,000 sq ft.
  • Supply levels in the South East continue to be eroded as overall vacancy levels are now at just 7.94%.
  • Prime rents remain strong and mostly unchanged across the South East.
  • Q3 2019 witnessed 31 South East office investment transactions totalling approximately £883 million. This is a 78% increase on Q2 volumes. However, 61% of Q3 volumes were attributed to two council-led business park deals.

The key investment trends of Q3 2019 were:
  • 45% of all transactions in the quarter were ‘off market’
  • Long income opportunities with guaranteed rental performance remain keenly sought after
  • Multi-let town centre offices remain top of investors’ shopping lists 
  • There remains a diverse group of buyers in the market with the largest market share attributed to property companies and residential developers at 23%

Related Experts
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Mark Taylor

Head Of National Offices

London - West End

Mark Taylor has more than 20 years of experience in the Corporate and Landlord Office Leasing field. His role in the last 7 years has seen a focus on working with US Corporates seeking to locate or reduce their European facilities. As part of this role Mark has organised and made corporate and market presentations to End Users, Investors and Developers throughout the US and Europe.

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Alex Titheridge


London - West End

  • Jones Lang LaSalle - August 2000 to September 2008
  • JP Elliott - April 2009 - May 2012
  • Colliers International - August 2012 current
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Lisa Dean

Associate Director

London - West End

I have more than 20 years experience working in the UK property industry and have an extensive background in UK property research, undertaking varied types of property and fund due diligence research over my career.   At Colliers International, I lead our National Offices Research for Manchester, Birmingham, Leeds, Bristol and the South East. 

I am responsible for our quarterly reporting and statistical analysis of occupier trends in the major UK regional cities as well as bespoke analysis, consultancy and commentary on these markets. In addition to our quarterly reporting, I collect and analyse prime rental data for 63 towns and cities across the UK to produce our National Offices Rents Map.

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