London office spec completion on the rise

London-data-graphic-reduxThe six months to March 2017 saw over 2m sq ft of speculative office completions in London for the first time since 2009. Data from EG’s London Office Market Analysis indicates that 1.3m sq ft of unlet completions came through in Q1 2017, added to the 900,000 sq ft that came through speculatively in the final three months of 2016. The preceding five years has seen, on average, 818,000 sq ft of speculative completions across six-month periods, meaning that the latest data represents a 150% increase on the five-year average. Pre-construction availability,