Brexit blow to business confidence
The London Office Crane Survey Summer 2016
20 years of building for business
Our latest Crane Survey tracks every office scheme under construction across central London, looking ahead at the potential delivery of space and its future impact on supply in the market.
Now in its 20th year, this report also examines how central London office construction has changed over the past two decades and how it is likely to develop over the next five years.
Key findings from our latest survey
- 51 new schemes have started since our last survey – the highest in our 20 year history
- The latest results show that the total volume of office construction has increased by 28% over the past six months to 14.2 million sq ft, the highest level since Q1 2008
- 38% of the space currently under construction is scheduled to complete over the next 12 months
- 42% of space under construction has already been let to a tenant, reflecting low level of available space in the market
- The survey uses our Crane Survey Plus model which predicts a rising delivery of space until 2018, when we expect to see a peak in new supply.
Explore our findings
Total number of new starts
Central London development pipeline
Office space under construction leased by business sector
Total size (sq ft):
View our infographic
About the report
The Deloitte Real Estate London Office Crane Survey is the definitive survey of commercial construction in central London. This edition covers the six months to 31st March 2016.
The survey measures the volume and impact of office development (new build or significant office refurbishment of 10,000 sq ft) across central London over the next five years, and is widely used as a barometer of developers’ sentiment and future office supply.
View previous editions of the London Office Crane Survey to see how office development in London has changed over time: