2025年第四季度东南部和大伦敦办事处

Investment Rating - The report indicates a positive outlook for the South East office market, with a focus on high-quality, amenity-rich assets, suggesting a favorable investment environment for the coming years [5][15]. Core Insights - 2025 is projected to achieve the highest annual take-up figures since 2019, with a total of 3.4 million sq ft leased, reflecting an 8% increase compared to 2024 [7]. - The demand is primarily driven by the Financial and Business Services sector, accounting for 26% of total take-up, followed closely by the TMT sector at 23% [7]. - Grade A accommodation represented 79% of all take-up in 2025, highlighting a continued flight to quality among occupiers [7]. - Availability in the market decreased to 16.2 million sq ft, with a notable contraction in prime segments [7]. - The development pipeline remains limited, with 1.8 million sq ft under construction, primarily concentrated in Cambridge and West London [7][15]. Summary by Sections Leasing Overview - Total take-up for 2025 reached 3,374,313 sq ft, which is 8% higher than the five-year average [4]. - Active demand at year-end totaled 3.95 million sq ft, with Financial and Business Services again representing 26% of this demand [7]. - Availability decreased to 16,181,056 sq ft, a 12.3% reduction compared to the five-year average [4]. Investment Overview - Investment volumes for 2025 were £1.3 billion, which is 43% lower than the ten-year average [9]. - The market saw 112 deals completed in 2025, which is 15% higher than the ten-year average [15]. - Prime office yields in the South East remained at 7.00%, indicating attractive opportunities for investors [15]. Market Dynamics - The report notes a significant increase in rental prices, with 40% of markets in the South East registering an uplift, particularly in Cambridge and Oxford, which saw rental growth of 27% and 16% respectively [7]. - The overall vacancy rate improved to 10.2% in Q4 2025, down from 10.5% in Q4 2024, with Grade A vacancy decreasing to 6.6% [7]. - The report emphasizes the importance of high-quality space, as evidenced by the strong demand for Grade A accommodation [7][15].