the deloitte london office crane survey: summer 2014

WHICH SECTORS ARE TAKING SPACE? Leasing activity featured in this survey INSURANCE 20% TMT 37% FINANCIAL 2 4 % DOWNLOAD THE NEW LONDON APP www.deloitterealestate.co.uk www.deloitte.co.uk/cranesurvey With the future of London literally at your fingertips, the New London App is a must have for investors, property owners, developers or occupiers, within the UK and internationally. There is simply no other tool in the market with the capability to showcase London’s offer in this way and it is set to revolutionise how the industry goes to market. London Offices Crane Survey data now added. www.deloitterealestate.co.uk/newlondonapp To view the London development website visit: www.newlondondevelopment.com THREE LARGEST BUILDINGS IN THE SURVEY 5 BROADGATE LARGEST UNDER CONSTRUCTION SEA CONTAINERS LARGEST COMPLETED 1 2 3 ALDGATE TOWER LARGEST UNDER CONSTRUCTION AND AVAILABLE TO LET CENTRAL LONDON DEVELOPMENT PIPELINE MILLION SQ FT The London Office Crane Survey Summer 2014 WHY MEASURE CRANE ACTIVITY? HEADLINE RESULTS The Deloitte Real Estate Crane Survey measures office construction activity in Central London. The results present a picture of the health of not just the commercial property market, but of London as a whole. 64 SCHEMES UNDER CONSTRUCTION 9.2m OF OFFICES UNDER CONSTRUCTION SQ FT 45% OF SPACE UNDER CONSTRUCTION IS LET 1.6m HAS COMPLETED SINCE LAST SURVEY SQ FT There is approximately 4.5 million sq ft currently undergoing demolition or major strip out works. Equivalent to: 7.6 Shards LEGAL 3% PROFESSIONAL 4% OTHER 6% ? CORPORATE 3% GOVERNMENT 3% 0 PADDINGTON 9.2 TOTAL 1.3 MIDTOWN 0.3 SOUTHBANK 0.7 KING’S CROSS 4.7 CITY 1.6 WEST END 0.5 DOCKLANDS NUMBER OF CONSTRUCTION STARTS SINCE LAST SURVEY ACROSS CENTRAL LONDON TODAY 15 LOW 4 (2012) HIGH 37 (2007) AVERAGE 19

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London is set for an upsurge in office development with a rise in demolitions and the readying of sites for new construction, but office space is likely to remain in short supply over the next two years. For more information, visit www.deloitte.co.uk/cranesurvey

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Page 1: The Deloitte London Office Crane Survey: Summer 2014

WHICH SECTORS ARE TAKING SPACE?Leasing activity featured in this survey

INSURANCE20%

TMT37%

FINANCIAL24%

DOWNLOAD THE NEW LONDON APP

www.deloitterealestate.co.ukwww.deloitte.co.uk/cranesurvey

With the future of London literally at your fingertips, the New LondonApp is a must have for investors, property owners, developers or occupiers, within the UK and internationally. There is simply no other tool in the market with the capability to showcase London’s offer in this way and it is set to revolutionise how the industry goes to market. London Offices CraneSurvey data now added. www.deloitterealestate.co.uk/newlondonapp

To view the London development website visit: www.newlondondevelopment.com

THREE LARGEST BUILDINGS IN THE SURVEY

5 BROADGATELARGEST UNDER CONSTRUCTION

SEA CONTAINERSLARGEST COMPLETED

1 2 3ALDGATE TOWERLARGEST UNDER CONSTRUCTIONAND AVAILABLE TO LET

CENTRAL LONDON DEVELOPMENT PIPELINE MILLION SQ FT

The London Office Crane Survey Summer 2014

WHY MEASURE CRANE ACTIVITY?

HEADLINE RESULTS

The Deloitte Real Estate Crane Survey measures office construction activity in Central London. The results present a picture of the health of not just the commercial property market, but of London as a whole.

64SCHEMES UNDERCONSTRUCTION

9.2mOF OFFICES UNDER CONSTRUCTIONSQ

45%OF SPACE UNDER CONSTRUCTION IS LET

1.6mHAS COMPLETEDSINCE LAST SURVEYSQ

There is approximately 4.5 million sq ft currently undergoing demolition or major strip out works. Equivalent to:

7.6 Shards

LEGAL3%

PROFESSIONAL4%

OTHER6%?

CORPORATE 3%

GOVERNMENT3%

0PADDINGTON