South East Offices Review Q1 2021

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Summary

• Source: BNP
• Market: Office
• Date: May 2021

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Key take aways‍

• 39% rise
  On the same period last year (412,090 sq ft) and remains down just 7% on the long term quarterly average for take-up in the first quarter.
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• 9.4% average vacancy rates across the region
  Vacancy rates now average 9.4% across the region but big variances with some towns well below the average for example Watford and Redhill & Reigate, increased from 7.2% pre pandemic but encouragingly still lower than anytime between Q1 2010 and Q4 2017.
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• Total investment volumes is down 51% on Q1 2020 it is 29% up on Q1 2019.
  he South East office investment market has started 2021 well, continuing the strong Q4 in 2020. Total investment volumes in Q1 2021 reached £519m, while this is down 51% on Q1 2020 it is 29% up on Q1 2019.
  

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View their full report here