The London Office Crane Survey Winter 2019
About the London Office Crane Survey
Volume of new office starts between April and September was 1.8m sq ft, down by 49% survey on survey, only 24 schemes broke ground.
Construction activity in the City declined again, while the West End saw a surge in new construction activity with 11 new starts.
11.9 million sq ft was under construction as of end of September, 10% down on the previous survey but remains above long term average of 10.6 million sq ft.
Completion volumes between April and September reached 3m sq ft, up by 44% on the previous survey. The total completion volume for 2019 is set to fall short of the 2018 figure.
Pre-letting continues to drive office demand, with 49% of space under construction already pre-let. For size ranges of above 100,000 sq ft, the figure edges closer to 60%.
TMT has further increased its proportion of pre-let space under construction, from 35% to 43%.
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Number of new
Total amount under
Amount of space under
Key business sectors
Office development pipeline
Number of schemes
% new build vs
Central London office space under construction and number of new starts
Occupier leasing activity on space under construction
Real Estate Insight Manager