MARKET NAME Office QX 20XX

MA R K E T B E AT

UNITED KINGDOM

Office Q4 2021 2

MARKET STATISTICS Q4 2022

OVERALL VACANCY RATE

INVENTORY (SF)

AVAILABILITY (SF)

CURRENT QTR TAKE UP (SF)

12-MONTH ROLLING TAKE-UP (SF)

SPECULATIVE UNDER CONSTRUCTION (SF)

PRIME RENT (per sq ft)

SUBMARKET

PRIME YIELD

Birmingham

18,625,000

1,044,075

5.6%

210,348

692,700

521,280

£41.00

5.75%

Bristol

14,100,000

778,317

5.5%

111,130

620,236

419,821

£42.50

6.00%

Edinburgh

9,170,177

617,299

6.7%

239,716

492,918

0

£39.00

5.75%

Glasgow

14,059,297

1,385,822

9.9%

89,224

402,281

349,011

£35.50

6.00%

Leeds

13,000,000

919,342

7.1%

210,321

618,207

254,879

£36.00

6.00%

Manchester

22,500,000

2,777,654

12.3%

426,872

1,213,843

578,798

£40.00

5.75%

BIG SIX TOTALS

91,454,474

7,522,509

8.2%

1,287,611

4,040,185

2,123,789

-

-

West End

118, 169,047

6,738,764

5.7%

994,592

3,948,290

4,954,564

£120.00

3.75%

City

44,035,616

14,247,178

9.9%

1,398,015

5,528,532

4,673,670

£72.50

4.50%

East London

23,745,874

4,118,034

17.3%

199,095

729,566

990,500

£55.00

5.25%

CENTRAL LONDON TOTALS

285,950,536

25,103,976

8.8%

2,591,702

10,470,105

10,618,734

-

-

UK TOTALS

377,405,010

32,626,485

8.6%

3,879,313

14,510,290

12,742,523

-

-

KEY LEASE TRANSACTIONS Q4 2022

PROPERTY

MARKET

TENANT

Size (Sq ft)

TYPE

2 Aldermanbury Square

London

Clifford Chance

321,100

Pre-let

20 Brandon Street

Edinburgh

BlackRock Inc

139,172

New lease

HEENA GADHAVI Associate Director, UK Research & Insight

100 Embankment

Manchester

Deloitte

63,066

New lease

Norfolk House

Birmingham

Global Banking School

43,766

New lease

2 Atlantic Square, York Street

Glasgow

Siemens

14,488

New lease

+44 (0) 203 296 2037 heena.gadhavi@cushwake.com

Hartwell House, Victoria Street

Bristol

EPIC

13,141

New lease

The Lock, 8 George Mann Road

Leeds

Everlast

10,303

New lease

KIRAN PATEL Associate Director, UK Research & Insight

KEY SALES TRANSACTIONS Q4 2022

PROPERTY

MARKET

SELLER / BUYER

Size (Sq ft)

PRICE

Fenwick, 63 New Bond Street

London

Lazari

152,591

£430 million

+44 (0) 740 782 5580 kiran.patel@cushwake.com

177 Bothwell Street

Glasgow

HFD Group / Pontegadea

313,116

£207.5 million

Waverley Gate, Waterloo Place

Edinburgh

Patrizia / Kennedy Wilson

217,000

£78 million

A CUSHMAN & WAKEFIELD RESEARCH PUBLICATION

101 Barbirolli Square

Manchester

AEW / La Francaise

83,743

£47.6 million

©2023 Cushman & Wakefield. All rights reserved. The information contained within this report is gathered frommultiple sources believed to be reliable. The information may contain errors or omissions and is presented without any warranty or representations as to its accuracy.

Soapworks Offices, Straight Street

Bristol

First Base / Barings

75,000

£40 million

Edmund Gardens, Edmund Street

Birmingham DTZ Investors / The Hillview Group JV ShlomoGroup 67,510

£21 million

Wellington Plaza

Leeds

Legal & General / Asset Capital

21,000

£5 million

cushmanwakefield.com