London Crane Survey Summer 2020

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About the London Office Crane Survey

What?
A report that measures the volume of office development taking place across central London and emerging London submarkets.

Where?
London, covering the central office markets; The City, West End, Docklands, King’s Cross, Midtown, Paddington and Southbank, and emerging submarkets; Vauxhall-Nine Elms-Battersea, Stratford and White City.

Who?
Developers building new offices or undertaking significant office refurbishment of 10,000 sq ft+.

When?
The survey covers the period from October 2019 to March 2020.

How?
Our team of researchers have walked the streets of central London and emerging London submarkets to monitor office construction. Our field research is then verified with direct industry links and in-house property experts.

Key findings

Total volume under construction is up by 29% on our previous survey
At 5m sq ft, volume of new starts in six months to March is the highest on record, with two schemes accounting for a third of the total
Survey completions are down by 60%
Construction activity surged across most submarkets, with the City seeing a 38% uplift
44% space under construction already pre-let
TMT committed to 38% of all space under construction