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The London Office Crane Survey Summer 2017

Development: shifting gears?

Today’s political climate puts London and its property market in the spotlight. The London Office Crane Survey acts as a barometer not only for the commercial property market but for the economy as a whole. We’ve tracked every office scheme under construction across central London.

Key findings from our latest crane survey

  • Overall construction levels have marginally dipped despite an above-average volume of new starts
  • 13-year survey high of completed space has impacted the level of space under construction
  • Pace of completions to accelerate further in 2017
  • Mitigating the impact of this supply somewhat, occupier demand for new space has remained resilient so far
  • Businesses will continue to face political and economic uncertainty as the UK enters a general election and EU exit negotiations
  • Survey of contractors predict a consistent rise in workload and anticipate further inflation in tender prices over the next 12 months
  • Demolition levels maintained at 7.9 million sq ft as more schemes prepare for imminent start
  • Looking further ahead, our pipeline for the next five years continues to record a significant volume of potential construction

Explore our data

Central London
22
Number of new
construction starts
200,000
sq ft
Total amount under
construction
Amount of space under
construction let

Key business sectors
leasing space

Office development pipeline

101
Number of schemes
under construction
7.8
Demolition level
million sq ft
% new build vs
% refurbishment

Central London office space under construction and volume of new starts

Occupier leasing activity on space under construction

Financial
46%
TMT
21%
Corporate
13%
Legal
13%
Professional
5%
Insurance
2%
Other
1%
Central London
vacancy rate %
2.47
Central London
take-up Q1 2017
(million sq ft)
More space 33%
Less space 2%
Consolidation - more space 48%
Consolidation - less space 16%
New entrant 1%
Reasons for moving to new space
Show all statuses
Existing scheme
New start
Completed
City
Docklands
King's Cross
Midtown
Paddington
Southbank
Stratford
West End
White City
Vauxhall-Nine      Elms-Battersea

Scheme number:

Scheme name:

Postcode:

Developer:

Tenant:

Completion date:

Total sq ft:

Space available sq ft:

Discover our infographic

About the London Office Crane Survey report

Established more than 20 years ago, the London Office Crane Survey monitors the supply of new office developments in the main central London markets and emerging submarkets. The report:

  • Is the most authoritative guide to current and future construction levels
  • Provides findings that are of importance to investors, developers and occupiers alike
  • Is regarded as a key indicator of London’s economic health.
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