London Net Stock Absorption Spring 2008

Published: February 2008
Source/Company: Colliers International

Abstract:
Executive Summary
• Total net stock absorption (NSA) in 2007 for Central London was 3.3 million sq ft,
down 38% on the 2006 total.
• The annual NSA figure has now been over 3 million sq ft for three consecutive years,
evidence of the strength of the Central London office market.
• Total NSA for the second half of 2007 was still positive at 1.2 million sq ft, although
this was 39% lower than the first six months as take-up has fallen and the reduction in
availability slowed.
• The City Core continued to be the best performing submarket, and all City submarkets
returned positive NSA over the second half of 2007.
• Upwards pressure on prime rents has eased, particularly in the City, as the lack of
50,000 sq ft plus requirements begins to bite.
• 2008 could see downwards pressure on absorption as development stock completes and
comes to the market vacant, thanks to pre-lets stalling over the last quarter of 2007.

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