Canary Wharf tops London offices
26th May 2016
Canary Wharf has recorded
rental growth of 26.7% over the past 12 months, the highest of any London
According to research by
Cluttons, the area’s relative affordability has helped it attract significant
deals in recent months, with occupiers also tempted by high quality purpose
Rents in the area averaged
£37.50 during Q1 2015 and have now risen to £47.50. Vacancy stands at 5.1%.
The largest deal of the
quarter was Thomson Reuters taking of 300,000sq ft in St Martin’s 5 Canada
“In recent months, the
central London market has experienced Brexit nervousness and general settling
of the market, but Canary Wharf has bucked this trend,” said Cluttons head of
reasearch Said Faisal Durrani.
“The prospect of a Brexit
and a sense that the market may be peaking have together slowed the rate of
rental growth across the wider central London markedly.
“This, combined with an
imminent and seasonal summer slowdown suggests that we are in for a few more
months of minimal rental growth. Once the Brexit storm has passed, there is the
potential for activity levels to normalise, assuming the status quo prevails on
If you are looking for office space in Canary Wharf please call Gryphon Property Partners on 0203 440 9800 or click on the following link - Office space