Costar Agency Awards 2014

CoStar Agency Awards 2014

1 Welcome to the 2014 CoStar Agency Awards

CoStar Group is pleased to announce the winners of the 2014 Agency Awards!

It would seem that 2014 will be remembered as the year when commercial property finally emerged from the gloom of the downturn. Across the board activity is up and we are pleased to celebrate the well-deserved successes of the agents’ community in this book.

In the last 12 months, we have recorded 52,274 deals, an increase of 14% on the previous year. This year we have routinely updated deal and listing information with nearly 4,000 UK firms.

I would like to take the opportunity to thank all of you who share your data with the community through working with our research teams and our platforms. I am convinced that market transparency enhances liquidity and that the example of the Birmingham Office Market Forum (see pages 10-11) shows how their open approach has attracted significant inward investment.

As the speed of transactions is set to accelerate, we will continue to support the industry with the best data, analytics and news solutions. Our aim is to help drive market efficiency and streamline our clients’ workflows, saving you precious time and allowing you to provide ever better service to your clients.

Finally, I would like to congratulate this year’s winners and wish everyone a prosperous end to this eventful year.

Yours Sincerely, Giles Newman Managing Director CoStar Europe

1 Data Analytics News

2,748,708 Q1 Q2 28,000 1,476 Changes made to our database Phone calls made every day in the past 12 months Q3 Q4 UK professionals receive our news every day 940,000+ Submarket Reports are Digital images taken updated in CoStar Suite 207 (and counting) 80 every quarter Deals added every day Investment Bulletin 12,000 Volume of transactions recorded in 2014 vs 2013 We speak to: sent quarterly and yearly to news articles are available in Suite 2014: 52,274 8,401 agents in 2013: 45,727 3,972 rms across the UK 20+ news stories a day 120 a 14% That’s over researchers increase 5,000 users 100 a week

UK rms 650 are now using CoStar Suite 50% The power of Data, Analytics of our UK client base and News,combined have migrated to One new client CoStar Suite Access a unique combination of Data, Analytics and News, o ering the most signs up to Costar Suite comprehensive macro to micro explanation of the UK commercial property market. every single day CoStar’s proprietary data, which underpins this book, is sourced directly from thousands of property agents, owners and other involved parties to accurately reect the transactional market in real time. 2 Data Analytics News

With the market well on track to break new records, are you lagging behind or leading the race to outrun your competition?

Over 650 UK firms have already signed up to CoStar Suite, from single surveyor practices to major property consultancies.

Get integrated Data, Analytics and News.

visit www.costar.co.uk or call 020 3205 4500

Meet us at MIPIM - Stand D21. 15th-17th October, London. 4 Table of Contents

Office Markets

Birmingham Office ...... 6

Birmingham Office Market Forum .. 10

Edinburgh Office ...... 12

Glasgow Office ...... 16

Leeds Office ...... 20

London City Office ...... 24

London Docklands Office ...... 28

London Midtown Office ...... 32

London Southbank Office ...... 36

London West End Office ...... 40

Western Corridor Office ...... 44

Industrial Markets

North West Industrial ...... 48

Scotland Industrial ...... 52

West Midlands Industrial ...... 56

Meet us at MIPIM - Stand D21. 15th-17th October, London. 5 Birmingham Office

Station comes forward. HS2’s commitment, while a major endorsement of the city, has heightened the sense that there is a crisis in terms of the dwindling supply of Grade A stock. Paul Norman Editor, CoStar News In response, a significant number of developers are jostling to secure prelets and bring forward major new schemes, or are flirting with pushing the button While the investment market for on speculative development. This includes Goodman, Birmingham offices has taken off in Legal & General, Sterling Property Ventures and IM Properties. recent months, the leasing market has been notably short of large-scale transactions, following the series of landmark moves seen in early 2013 and 2012.

All that has of course changed post the voting period with the news that HS2 is to set up its 100,000 sq ft UK headquarters at Hines’ and Ballymore’s Two Snowhill in Birmingham. That is expected to prompt a host of satellite operations to need space in the city Two Snowhill centre as the vision for the regeneration of Curzon

Editor’s Choice Awards

CoStar News readers have been voting for two awards – the deal and dealmaker of the year - in each market.

Readers picked Bruntwood’s letting of 33,460 sq ft at its Centre City Tower to Legal & General as their deal of the year in Brum.

Perennial Birmingham dealmaker John Griffiths of GBR Phoenix Beard was one of only two people to Centre City Tower repeat their success last year and be voted dealmaker of the year again.

6 Eyes on the market

Birmingham Office: Supply, Demand and Vacancy *Data by collected CoStar from 1st July 2013 to 30th June 2014.

Supply/Demand (000s SF) Vacancy Rate (%) 500 18% 400 16% 300 14% 200 12% 100 10% 0 8% 100 6% 200 4% 300 2% 400 0% Q2 06 Q4 06 Q2 07 Q4 07 Q2 08 Q4 08 Q2 09 Q4 09 Q2 10 Q4 10 Q2 11 Q4 11 Q2 12 Q4 12 Q2 13 Q4 13 Q2 14 Change in Demand (LHS) Change in Supply (LHS) Vacancy Rate (RHS)

Largest deals of the year*

Address Size Occupier Landlord/Seller Tenant/Buyer Month sq ft Agent Agent

1 Centre City Tower 33,460 Legal & General Group Knight Frank, DTZ Nov-13 GVA, CBRE 2 NTI Building 27,506 Birmingham City JLL GVA Apr-14 University 3 Tricorn House 24,850 Housing 21 CBRE, Jaggard Baker Dec-13 GBR Phoenix Beard 4 20 Colmore Row 15,000 Allianz Insurance Cushman & Dexter Brown Aug-13 Wakefield, GVA 5 22 Gas Street 14,928 Carl Zeiss Vision UK CBRE, Deloitte Real Estate Jul-13 GBR Phoenix Beard 6 St Philips Point 14,682 Weightmans GBR Phoenix Beard DTZ Jan-14 7 2 Colmore Square 14,000 Vax CBRE, GVA Harris Lamb Nov-13 8 St Philips Chambers 13,500 CBRE CBRE, KWB CBRE Apr-14 9 19 George Road 12,138 Healthtrust Europe DTZ Boston Fieldgate Jan-14 Company 10 1 - 5 Broadway 11,514 Valuation Office Cushman & N/A Feb-14 Agency Wakefield, DTZ

7 Birmingham Office

Winners Office 2014(July 2013 - June 2014) *Data by collected CoStar from 1st July 2013 to 30th June 2014. Top Agents by Availability sq ft Top Agents by Acquisitions sq ft

1 GBR Phoenix Beard 1,690,032 1 DTZ 71,757 2 CBRE 1,315,677 2 Savills 37,544 3 JLL 1,032,528 3 GVA 30,407 4 GVA 988,889 4 Jaggard Baker 24,850 5 DTZ 760,288 5 Boston Fieldgate 22,138 6 Savills 519,945 6 Dexter Brown 15,000 7 Colliers International 515,103 7 Deloitte Real Estate 14,928 8 Knight Frank 416,845 8 Lambert Smith Hampton 14,486 9 Cushman & Wakefield 273,072 9 CBRE 14,351 10 KWB Property Management 258,553 10 Harris Lamb 14,000

Top Agents by No. Instructions Top Agents by Disposals sq ft

1 GBR Phoenix Beard 126 1 GBR Phoenix Beard 234,787 2 JLL 84 2 GVA 210,674 3 KWB Property Management 75 3 CBRE 178,039 4 Mason Young Property Consultants 70 4 KWB Property Management 159,185 5 DTZ 66 5 DTZ 127,569 6 CBRE 54 6 JLL 113,974 7 Knight Frank 48 7 Knight Frank 77,502 8 GVA 36 8 Colliers International 68,940 9 Siddall Jones Limited 29 9 Cushman & Wakefield 35,431 10 Colliers International 25 10 Mason Young Property Consultants 28,763

Top Agents by Total Value of Lease Transactions (£ PA) Research 1 GVA 3,200,721 2 CBRE 2,987,604 Contact 3 GBR Phoenix Beard 2,662,210 Laura Roberts 4 DTZ 2,373,707 Laura Roberts 5 Knight Frank 2,362,285 Research Manager 6 KWB Property Management 1,270,984 BirminghamWest Midlands 7 Savills 1,050,634 & West Midlands Industrial 8 Colliers International 829,802 T: 0141 354 0786 9 Cushman & Wakefield 600,985 T:E: [email protected] 354 0625 10 JLL 596,089 E: [email protected]

8 Editor’s Choice Winners 2014 *Data by collected CoStar from 1st July 2013 to 30th June 2014. Dealmaker of the year

Name John Griffiths Company GBR Phoenix Beard

Deal of the year

Name of building Centre City Tower Submarket Birmingham City Core Deal completion date 18/11/2013 Size (sq ft) 33,460 Landlord Agent(s) Knight Frank, GVA, CBRE Tenant Agent(s) DTZ Rent £16.50 per sq ft Tenant Legal & General Group Birmingham Office: The year in figures

transactions 299 completed

Centre City Tower, Birmingham ft ft 3,108,883 ft space available Best Newcomer - Midlands sq ft

Company HS2 Occupancy Rate + +/ - +/ - +/ - 85.4% as at Q2 2014 Did You Know?

You don’t need to wait another year to know who the top deal makers are. 92 Agents Find the most active agents across any contributed data to CoStar geography, in real time, in CoStar Suite.

9 An interview with John Griffiths, chairman of BOMF

Why was the Birmingham Office Market Forum formed? BOMF Members

Birmingham Office Market Forum GVA • JLL • Knight Frank was established in 2007 to present a • KWB • Lambert Smith coordinated voice to investors, developers Hampton • Marketing and occupiers about Birmingham’s city Birmingham • Savills Vail centre office market. Williams • BNP Paribas Real Regional markets are attracting an increasingly Estate • CBRE • diverse investor and occupier base. The days of Colliers International • relying on local occupiers churning over space and investment limited to a number of local and regional Cushman & Wakefield • investors are long gone. Birmingham and other core Deloitte Real Estate cities are competing on a global basis for capital and corporate inward investment, and the way that DTZ • GBR Phoenix Beard market data is presented has to reflect this.

How important has CoStar’s input been?

Our relationship with CoStar has been “We have a role to play in terms key. What the market wanted was to be able to benchmark and have a very clear of guarding the future growth and agreed starting point as to accurate of the office market within the stock levels to assess change. city, and by working together as a single group we have a more A close cooperation from the start between the Forum powerful voice that will ensure and CoStar ensured the base data and benchmark that Birmingham remains a key information was accurate and relevant. For many years it used to be inconsistent. We know that commercial location.” Birmingham is on the radar with corporate occupiers and investors, and we know from them that they John Griffiths, want information that is transparent and consistent. Chairman of BOMF The response in the market has been great.

10 Does transparency increase liquidity?

John Griffiths Jonathan Lawes Consultant, Director, GBR Phoenix Beard Cube Real Estate & Chairman of BOMF

How important has improved Why invest in Birmingham transparency been? now?

If there is a lack of transparency and There is a buoyant feel to the market reliable data then that is unattractive for in Birmingham now, in part driven by investors and corporate markets. some great lettings such as HS2’s recent commitment. There are exacting requirements from investors and occupiers for accurate intelligence and we must be Many tenants are now realising that they are running on a level playing field at the very least with London. out of good grade A space opportunities and if you That is what BOMF is about – dependable, reliable, up have the right product and a proactive and flexible to date and relevant information on our market. letting policy, as we do at 11 Brindleyplace, it will let well. We immediately leased 8,500 sq ft in a single floor If we have achieved nothing more than this since letting to serviced office group MSO and will relaunch launch, then that is highly valuable in terms of the remaining 45,000 sq ft through GVA and GBR. making Birmingham more attractive for investors, albeit it is not per se why they will invest of course. They will invest for all of the usual reasons to do How does transparency help? with the quality of the real estate, infrastructure, demographics and the returns on offer. We rely heavily on our agent advisers and the data they compile from sources such as CoStar to gain BOMF is proud to have played its part in how this knowledge of occupiers, competing buildings and information is presented. existing tenant locations. It is vitally important for us to be aware of every occupier searching for space in the market, where they are moving from and what Can CoStar help you with else they are looking at.

your Market Forum? This enables us to differentiate what we can offer and provide a flexible solution to meet their requirements email [email protected] whether it be flexible lease terms, creative incentive packages, expansion options etc.

11 Edinburgh Office

There are continued concerns about a lack of supply in Edinburgh’s core city centre. Encouragingly, however, a number of significant developments are at last coming forward with Standard Life Investments Paul Norman and Peveril announcing plans for 165,000 sq ft of Editor, CoStar News mixed-use space at St Andrew Square, Tiger and Interserve preparing the Haymarket Goods Yard for development, and M&G teaming up with Moorfield to The Edinburgh market has taken off in back speculative development at Quartermile. 2014, significantly outperforming the five-year average in the first quarter in particular.

Those figures were undoubtedly boosted by a headline-grabbing move from Scottish success story and games developer Rockstar North to a 75,000 sq ft headquarters at Barclay House. There has been a healthy level of movement elsewhere too, including law firm BTO’s expansion into 11,000 sq ft at One Edinburgh Quay and continued success at Atria One, the City of Edinburgh Council’s office development. One Edinburgh Quay

Editor’s Choice Awards

CoStar News readers have been voting for two awards – the deal and dealmaker of the year - in each market.

Rockstar North’s move to Barclay House was deal of the year – a worthy winner in any era.

Dealmaker of the year was Peter I’Anson of Ryden for his work on the Rockstar letting and “so many of the city’s deals”. Other popular nominees were Barclay House Michael Clements of CKD Galbraith and Colin Steele at Rapleys.

12 Eyes on the market *Data by collected CoStar from 1st July 2013 to 30th June 2014. Edinburgh Office: Supply, Demand and Vacancy

Supply/Demand (000s SF) Vacancy Rate (%) 400 12%

300 10% 200 8% 100 6% 0 4% 100

200 2%

300 0% Q2 11 Q4 11 Q2 12 Q4 12 Q2 13 Q4 13 Q2 14 Change in Demand (LHS) Change in Supply (LHS) Vacancy Rate (RHS)

Largest deals of the year*

Address Size Occupier Landlord/Seller Tenant/Buyer Month sq ft Agent Agent

1 Barclay House 75,000 Rockstar North Ryden, Rapleys EYCO Mar-14

2 Capital House 54,600 Mellon Financial CuthbertWhite, JLL JLL Sep-13 Corporation 3 Atria One 32,343 PWC JLL, Montagu Evans Savills Aug-13 4 Argyle House 26,600 Codebase DTZ N/A Jan-14 5 1 Tanfield 20,600 Zonal Retail Data CBRE, Ryden Ryden Mar-14 Systems 6 33 - 40 Princes 14,815 Aberdeen Asset JLL N/A May-14 Street Management 7 1 - 4 Glenfinlas 12,339 Murray Beith Murray CBRE Montagu Evans Jan-14 Street 8 Edinburgh Quay 1 11,994 BTO Solicitors DTZ Lambert Smith Jan-14 Hampton 9 Argyle House 10,000 Codebase DTZ N/A May-14 10 Waverleygate 8,633 Hogarth Worldwide Montagu Evans, JLL Ryden Jan-14

13 Edinburgh Office

Winners Office 2014(July 2013 - June 2014) *Data by collected CoStar from 1st July 2013 to 30th June 2014. Top Agents by Availability sq ft Top Agents by Acquisitions sq ft

1 JLL 916,549 1 JLL 97,565 2 Montagu Evans 672,429 2 EYCO 97,551 3 Ryden 504,208 3 Savills 47,109 4 Cuthbert White 480,974 4 Cushman & Wakefield 33,461 5 CBRE 405,794 5 Ryden 31,823 6 WYM Real Estate 399,443 6 Lambert Smith Hampton 20,712 7 Savills 227,690 7 Montagu Evans 19,356 8 GVA James Barr 207,215 8 CuthbertWhite 13,538 9 EYCO 193,900 9 BNP Paribas Real Estate 12,600 10 Cushman & Wakefield 156,660 10 DTZ 10,965

Top Agents by No. Instructions Top Agents by Disposals sq ft

1 Ryden 99 1 JLL 233,504 2 JLL 80 2 Ryden 178,892 3 Montagu Evans 61 3 Montagu Evans 126,849 4 Edinburgh Commercial Property 39 4 Cuthbert White 93,914 5 GVA James Barr 37 5 Rapleys Consultants 75,000 6 CKD Galbraith 35 6 EYCO 69,842 7 Cuthbert White 34 7 DTZ 59,780 8 EYCO 32 8 CBRE 57,942 9 CBRE 30 9 GVA James Barr 30,130 10 FT Linden 29 10 Savills 29,567

Top Agents by Total Value of Lease Transactions (£ PA) Research 1 Ryden 2,026,744 2 EYCO 1,961,523 Contact 3 Rapleys Consultants 1,500,000 Laura Roberts 4 JLL 1,084,745 Gordon MacDonald 5 DTZ 580,222 Research Manager 6 Montagu Evans 535,250 ScotlandWest Midlands 7 CKD Galbraith 243,039 8 Cuthbert White 229,633 T: 0141 354 08440786 9 Cushman & Wakefield 169,006 E: [email protected]@costar.co.uk 10 Savills 132,804

14 Editor’s Choice Winners 2014 *Data by collected CoStar from 1st July 2013 to 30th June 2014. Dealmaker of the year

Name Peter I’Anson Company Ryden

Deal of the year

Name of building Barclay House Submarket Edinburgh Old Town Deal completion date 30/03/2014 Size (sq ft) 75,000 Landlord Agent(s) Ryden, Rapleys Tenant Agent(s) EYCO Rent £20.00 per sq ft Tenant Rockstar North Edinburgh Office: The year in figures

transactions 183 completed

ft ft 2,278,053 ft space sq ft available Barclay House Occupancy Rate + +/ - +/ - +/ - 90.6% as at Q2 2014 Did You Know?

You don’t need to wait another year to know who the top deal makers are. 78 Agents Find the most active agents across any contributed data to CoStar geography, in real time, in CoStar Suite.

15 Glasgow Office

under construction, offering significant options for tenants in the centre.

Standout deals over the period have included Paul Norman Scottish Power’s pre-commitment to its 220,000 Editor, CoStar News sq ft standalone headquarters on St Vincent Street, where construction is now underway too, and BAM Properties’ notable successes at its 143,000 sq ft Robust take-up figures in the Glasgow CONNECT11ONS building. office sector in 2013 have continued into 2014, with lettings in Q1 2014 at 50% above the quarterly average.

There had been evidence that transactions in both Glasgow and Edinburgh offices had begun to slow as we approached the Referendum on Scottish Independence. Clarity will only come after the 18th September vote.

There is substantial speculative development of major office schemes in Glasgow. Abstract Securities’ St Vincent Plaza as well as CONNECT11ONS at 110 Queen Street and 1 West Regent Street are all CONNECT11ONS building on Queen Street

Editor’s Choice Awards

CoStar News readers have been voting for two awards – the deal and dealmaker of the year - in each market.

There were more votes in the Glasgow office categories than in any other. Readers’ deal of the year was Atos IT Services’ move to Capella.

Gillian Giles at Cushman & Wakefield, advisor to Capella British Airways Pension Fund on the building, was readers’ dealmaker by some margin.

16 Eyes on the market *Data by collected CoStar from 1st July 2013 to 30th June 2014. Glasgow Office: Supply, Demand and Vacancy

Supply/Demand (000s SF) Vacancy Rate (%) 600 14%

400 12%

200 10%

0 8%

200 6%

400 4%

600 2%

800 0% Q2 11 Q4 11 Q2 12 Q4 12 Q2 13 Q4 13 Q2 14 Change in Demand (LHS) Change in Supply (LHS) Vacancy Rate (RHS)

Largest deals of the year*

Address Size Occupier Landlord/Seller Tenant/Buyer Month sq ft Agent Agent

1 Elphinstone Place 220,000 Scottish Power N/A CBRE Oct-13

2 Capella 37,582 Atos IT Services Cushman & Wakefield, Cushman & Sep-13 Ryden Wakefield 3 Alexander Bain 30,275 Criminal Injuries & GVA James Barr, GVA James Barr Mar-14 House Compensation Ryden Authority 4 Pavilion 1, 30,092 Caley Ocean Systems JLL N/A Jan-14 Watermark 5 Cumbrae House 27,051 Princes Careers Trust Colliers International N/A Jan-14 6 Clydesdale Bank 25,083 Ashurst Cushman & Wakefield N/A Oct-13 Exchange 7 CONNECT110NS 25,000 Brodies Cushman & Wakefield, Ryden Oct-13 Phil Reid 8 89 Hydepark Street 19,721 NHS Education For Ryden GVA James Barr Oct-13 Scotland 9 Cuprum 19,526 SAS DTZ, JLL Cushman & Nov-13 Wakefield 10 389 Argyle Street 18,621 Siemens Cushman & Wakefield N/A Feb-14

17 Glasgow Office

Winners Office 2014(July 2013 - June 2014) *Data by collected CoStar from 1st July 2013 to 30th June 2014. Top Agents by Availability sq ft Top Agents by Acquisitions sq ft

1 Ryden 1,483,409 1 CBRE 231,566 2 JLL 1,240,371 2 Cushman & Wakefield 83,167 3 Cushman & Wakefield 1,005,731 3 Ryden 66,024 4 DTZ 865,913 4 GVA James Barr 60,767 5 CBRE 743,770 5 Phil Reid Associates 29,497 6 GVA James Barr 672,172 6 JLL 20,258 7 Lambert Smith Hampton 319,445 7 Deloitte Real Estate 17,805 8 Phil Reid Associates 293,626 8 McManus Property Consultants 14,586 9 Cargill Property Consultants 161,457 9 Montagu Evans 12,491 10 McManus Property Consultants 157,625 10 Knight Frank 12,113

Top Agents by No. Instructions Top Agents by Disposals sq ft

1 Ryden 211 1 Ryden 305,638 2 JLL 121 2 Cushman & Wakefield 197,433 3 Cushman & Wakefield 80 3 JLL 162,841 4 GVA James Barr 79 4 CBRE 161,292 5 DTZ 62 5 GVA James Barr 125,568 6 CBRE 61 6 DTZ 74,563 7 Cargill Property Consultants 33 7 Phil Reid Associates 43,585 8 Colliers International 31 8 Colliers International 36,084 9 Phil Reid Associates 24 9 Gerald Eve 23,430 10 Lambert Smith Hampton 19 10 Lambert Smith Hampton 21,411

Top Agents by Total Value of Lease Transactions (£ PA) Research 1 Ryden 3,792,150 2 GVA James Barr 2,069,952 Contact 3 Cushman & Wakefield 1,644,812 Laura Roberts 4 JLL 1,150,778 Gordon MacDonald 5 CBRE 441,877 Research Manager 6 McManus Property Consultants 380,495 ScotlandWest Midlands 7 DTZ 342,070 8 Deloitte Real Estate 331,173 T: 0141 354 08440786 8 Gerald Eve 331,173 E: [email protected]@costar.co.uk 10 Phil Reid Associates 317,730

18 Editor’s Choice Winners 2014 *Data by collected CoStar from 1st July 2013 to 30th June 2014. Dealmaker of the year

Name Gillian Giles Company Cushman & Wakefield

Deal of the year

Name of building Capella Submarket Glasgow City Core Deal completion date 04/09/2013 Size (sq ft) 37,582 Landlord Agent(s) Cushman & Wakefield, Ryden Tenant Agent(s) Cushman & Wakefield Rent Tenant Atos IT Services Glasgow Office: The year in figures

transactions 263 completed

Capella ft ft 3,518,625 ft space available Best Newcomer - Scotland sq ft

Company Abstract Securities Occupancy Rate + +/ - +/ - +/ - 89.0% as at Q2 2014 Did You Know?

You don’t need to wait another year to know who the top deal makers are. 106 Agents Find the most active agents across any contributed data to CoStar geography, in real time, in CoStar Suite.

19 Leeds Office

and the 220,000 sq ft Wellington Street due to be delivered in Q1 2016. There is also Sovereign Square, the joint development between Bruntwood and Kier Property, which will bring 95,000 sq ft of office space Paul Norman to the market by Q2 2016. Editor, CoStar News Prime headline rents have been edging up from £25 per sq ft to closer to £27 per sq ft. The Leeds office market has followed a sensational 2013 for take-up with figures in the first half of 2014 that are understandably more in line with the long-term average.

However a particular feature of the year so far has been a significant increase in prelet requirements ahead of looming lease events for the city’s key occupiers in the financial services and legal sectors over the next two years.

That has sparked an upturn in new development with the 105,000 sq ft No. 6 Wellington Place under Sovereign Square construction and due for delivery in December 2015 Editor’s Choice Awards

CoStar News readers have been voting for two awards – the deal and dealmaker of the year - in each market.

Deal of the year as voted for by readers is Highcross’s letting of the remaining space at the Broad Gate development on the Headrow to KPMG.

Dealmaker was one of the market’s long-term best operators, JLL’s Jeff Pearey. Broad Gate

20 Eyes on the market *Data by collected CoStar from 1st July 2013 to 30th June 2014. Leeds Office: Supply, Demand and Vacancy

Supply/Demand (000s SF) Vacancy Rate (%) 300 18%

200 16% 14% 100 12% 0 10%

100 8% 6% 200 4% 300 2% 400 0% Q2 06 Q4 06 Q2 07 Q4 07 Q2 08 Q4 08 Q2 09 Q4 09 Q2 10 Q4 10 Q2 11 Q4 11 Q2 12 Q4 12 Q2 13 Q4 13 Q2 14 Change in Demand (LHS) Change in Supply (LHS) Vacancy Rate (RHS)

Largest deals of the year*

Address Size Occupier Landlord/Seller Tenant/Buyer Month sq ft Agent Agent

1 Barclays House 44,274 N/A Savills N/A Jun-14

2 Broad Gate 28,500 KPMG Colliers International, Knight Frank Oct-13 CBRE, DTZ 3 15 - 16 Park Row 26,977 The University of Law DTZ N/A Feb-14 4 St Johns Centre 24,242 Sanef Operations DTZ, JLL WSB Apr-14 5 3 The Embankment 22,510 NHS Leadership JLL, DTZ Gerald Eve Sep-13 Academy 6 Granary Wharf House 21,550 Lhasa Allsop, Lambert N/A Nov-13 Smith Hampton 7 Wellington Plaza 20,884 Wage Day Advance DTZ, Carter Towler N/A Feb-14 8 1 Aire Street 19,971 The Office Group CBRE N/A Apr-14 9 West Gate 12,006 CSC Bruntwood Estates N/A Jun-14 10 West One 11,800 Stickyeyes DTZ N/A Nov-13

21 Leeds Office

Winners Office 2014(July 2013 - June 2014) CBRE, Sanderson Weatherall & Carter Towler in the Leeds award actively chose not to participate *Data by collected CoStar from 1st July 2013 to 30th June 2014. Top Agents by Availability sq ft Top Agents by Acquisitions sq ft

1 JLL 855,186 1 Knight Frank 47, 293 2 CBRE 558,434 2 WSB Property Consultants 24,292 3 DTZ 481,344 3 Gerald Eve 21,386 4 Wsb Property Consultants 341,946 4 Mark Brearley & Company 17,629 5 Savills 301,687 5 OBI Property 8,237 6 Carter Towler 292,132 6 JLL 7,369 7 Knight Frank 284,361 7 GN2 3,853 8 Sanderson Weatherall 182,007 8 DTZ 3,306 9 Lambert Smith Hampton 133,158 9 Savills 3,300 10 Colliers International 103,924 10 Mathias Perry 1,350

Top Agents by No. Instructions Top Agents by Disposals sq ft

1 JLL 83 1 DTZ 203,450 2 CBRE 66 2 CBRE 126,793 3 DTZ 53 3 JLL 124,036 4 Carter Towler 40 4 Savills 64,013 5 Wsb Property Consultants 36 5 Lambert Smith Hampton 43,270 6 Knight Frank 30 6 Carter Towler 39,525 7 Savills 25 7 Colliers International 38,445 8 Sanderson Weatherall 22 8 Sanderson Weatherall 27,373 9 Fox Lloyd Jones 16 9 Wsb Property Consultants 27,268 10 Colliers International 15 10 Knight Frank 23,393

Top Agents by Total Value of Lease Transactions (£ PA) Research 1 DTZ 2,129,512 2 JLL 906,276 Contact 3 Knight Frank 715,103 Laura Roberts 4 Gerald Eve 692,136 Laura Fell 5 CBRE 550,403 Research Manager 6 Sanderson Weatherall 352,670 LeedsWest Midlands 7 BNP Paribas Real Estate 331,252 8 Wsb Property Consultants 231,129 T: 0141 354 08410786 9 Savills 203,020 E: [email protected]@costar.co.uk 10 Ryden 194,560

22 Editor’s Choice Winners 2014 *Data by collected CoStar from 1st July 2013 to 30th June 2014.

Dealmaker of the year

Name Jeff Pearey Company JLL

Deal of the year

Name of building Broad Gate Submarket Leeds City Core Deal completion date 21/10/2013 Size (sq ft) 28,500 Landlord Agent(s) Colliers International, DTZ, CBRE Tenant Agent(s) Knight Frank Rent £25.00 per sq ft Tenant KPMG Leeds Office: The year in figures

transactions 100 completed

ft ft 1,876,269 ft space sq ft available Broad Gate Occupancy Rate + +/ - +/ - +/ - 88.0% as at Q2 2014 Did You Know?

You don’t need to wait another year to know who the top deal makers are. 86 Agents Find the most active agents across any contributed data to CoStar geography, in real time, in CoStar Suite.

23 London City Office

Rising prime rents do not seem to be dissuading tenants who are buying into the argument that the City will likely see further rental growth this year.

Paul Norman There have been a host of standout deals over the Editor, CoStar News period and the good news is this is having a domino effect, causing more and more companies to launch large-scale requirements. The City of London’s leasing market over the last year has seen tenants being encouraged to think longer term about their London footprint and initiating requirements for office space, often five years before their break options.

While corporate expansion is not yet widespread, tenants have been encouraged to relocate before it is too late as a result of a tight supply of office stock, as well as a sector-specific perception that rival firms are on the move. There is an element of keeping up Cannon Place with the Joneses.

Editor’s Choice Awards

CoStar News readers have been voting for two awards – the deal and dealmaker of the year - in each market.

There has been strong voting for a series of mega lettings in the City, not least those involving tenants ING and M&G.

But the standout deal was Schroders’ move to Oxford Properties and Brookfield’s One London Wall Place. The dealmaker was one of central London’s key One London Wall Place tenant agents - Bradley Baker of Knight Frank.

24 Eyes on the market *Data by collected CoStar from 1st July 2013 to 30th June 2014. London City Office: Supply, Demand and Vacancy

Supply/Demand (000s SF) Vacancy Rate (%) 2,500 14%

2,000 12%

1,500 10%

1,000 8%

500 6%

0 4%

500 2%

1,000 0% Q2 06 Q4 06 Q2 07 Q4 07 Q2 08 Q4 08 Q2 09 Q4 09 Q2 10 Q4 10 Q2 11 Q4 11 Q2 12 Q4 12 Q2 13 Q4 13 Q2 14 Change in Demand (LHS) Change in Supply (LHS) Vacancy Rate (RHS)

Largest deals of the year*

Address Size Occupier Landlord/Seller Agent Tenant/Buyer Month sq ft Agent

1 1 London Wall Place 309,477 Schroders GM Real Estate, JLL Savills Dec-13

2 Two New Ludgate 192,949 Mizuho Bank JLL, Savills Allsop May-14 3 Cannon Place 140,313 CMS Cameron Savills, CBRE CBRE Jul-13 McKenna 4 The Banking Hall 133,905 ING Bank NV DTZ, JLL JLL Feb-14 5 10 Aldermanbury 104,061 Capita Business DTZ, Cushman & Wakefield Capita Property & Dec-13 Services Infrastructure 6 Riverbank House 81,270 Field Fisher James Andrew Knight Frank Aug-13 Waterhouse International, BNP Paribas Real Estate 7 Commodity Quay 77,436 Clarksons Colliers International, CBRE, Jun-14 Savills, Ingleby Trice J Peiser Wainwright 8 33 Finsbury Square 74,379 University of GVA, DTZ, Hatton Real Edward Charles & Dec-14 Liverpool Estate Partners 9 160 Queen 67,129 Dechert DTZ Cushman & Apr-14 Victoria St Wakefield 10 Cannon Bridge 61,337 Natixis Securities CBRE GVA Apr-14 House London

25 London City Office

Winners Office 2014(July 2013 - June 2014) *Data by collected CoStar from 1st July 2013 to 30th June 2014.

Top Agents by Availability sq ft Top Agents by Acquisitions sq ft

1 JLL 4,094,927 1 CBRE 553,034 2 DTZ 3,554,033 2 Savills 528,536 3 CBRE 3,156,437 3 JLL 427,370 4 Savills 3,007,514 4 Cushman & Wakefield 365,332 5 Cushman & Wakefield 2,005,137 5 Knight Frank 266,515 6 Knight Frank 1,983,730 6 Allsop 204,976 7 BNP Paribas Real Estate 1,153,268 7 Capita Property & Infrastructure 160,394 8 Allsop 828,639 8 DeVono Property 134,419 9 Newton Perkins 673,740 9 Deloitte Real Estate 94,749 10 Ingleby Trice 670,741 10 Strutt & Parker 86,320

Top Agents by No. Instructions Top Agents by Disposals sq ft

1 JLL 178 1 JLL 1,666,272 2 CBRE 175 2 CBRE 1,231,871 3 Savills 114 3 Savills 1,111,381 4 DTZ 88 4 DTZ 1,004,150 5 Newton Perkins 80 5 Knight Frank 703,424 6 Ingleby Trice 75 6 Cushman & Wakefield 546,360 6 Knight Frank 75 7 Allsop 283,312 8 Allsop 59 8 BNP Paribas Real Estate 271,598 9 Hall Kemp 58 9 Ingleby Trice 262,437 10 Hatton Real Estate 53 10 Newton Perkins 235,485

Top Agents by Total Value of Lease Transactions (£ PA) Research 1 Knight Frank 37,614,449 2 CBRE 32,156,084 Contact 3 Savills 31,208,567 Laura Roberts 4 JLL 29,822,884 Lynsay Dorman 5 DTZ 15,525,063 Research Manager 6 Cushman & Wakefield 13,850,249 LondonWest Midlands 7 BNP Paribas Real Estate 9,454,714 & South West Corridor 8 Deloitte Real Estate 6,461,614 T: 0141 354 0786 9 Allsop 5,411,426 T:E: [email protected] 354 0671 10 Hatton Real Estate 5,372,279 E: [email protected]

26 Editor’s Choice Winners 2014 *Data by collected CoStar from 1st July 2013 to 30th June 2014.

Dealmaker of the year

Name Bradley Baker Company Knight Frank

Deal of the year

Name of building One London Wall Place Submarket City Core Deal completion date 23/12/2013 Size (sq ft) 309,477 Landlord Agent(s) GM Real Estate, JLL Tenant Agent(s) Savills Rent £61.00 per sq ft Tenant Schroders London City Office: The year in figures

transactions 830 completed

ft ft 8,214,455 ft space sq ft available One London Wall Place Occupancy Rate + +/ - +/ - +/ - 92.1% as at Q2 2014 Did You Know?

You don’t need to wait another year to know who the top deal makers are. 384 Agents Find the most active agents across any contributed data to CoStar geography, in real time, in CoStar Suite.

27 London Docklands Office

30 North Colonnade in Q3 2013 and rival EY’s prelet of 205,000 sq ft at 25 Churchill Place at the start of 2014. The two firms will relocate from the City and Southbank respectively. Paul Norman Editor, CoStar News The main concern now is the significant lack of new readily available stock, particularly in the face of a drive towards residential development in the area. The Docklands market has had a stellar start to 2014, with key transactions including the 205,000 sq ft acquired by EY at 25 Churchill Place and the 55,000 sq ft letting to HS2 at 1 Canada Square.

Take-up in the first half of 2014 has exceeded the annual total in each of the last three years, according to CoStar’s data. Beneath the headline figures, the drive among Canary Wharf Group and other landowners to expand the tenant base away from its traditional banking occupiers to embrace other sectors is clearly working to boost net absorption.

Two of the largest deals of recent quarters were 30 North Colonnade accountant KPMG’s 205,300 sq ft letting at

Editor’s Choice Awards

CoStar News readers have been voting for two awards – the deal and dealmaker of the year - in each market.

Readers picked out EY’s prelet of 205,000 sq ft at 25 Churchill Place as their deal of the year, while Rupert Cherryman of the eponymous Docklands-based agent Cherryman was dealmaker of the year for the second year running – congratulations! 25 Churchill Place

28 Eyes on the market *Data by collected CoStar from 1st July 2013 to 30th June 2014. London Docklands Office: Supply, Demand and Vacancy

Supply/Demand (000s SF) Vacancy Rate (%) 1,500 16% 14% 1,000 12%

500 10% 8% 0 6% 4% 500 2% 1,000 0% Q2 06 Q4 06 Q2 07 Q4 07 Q2 08 Q4 08 Q2 09 Q4 09 Q2 10 Q4 10 Q2 11 Q4 11 Q2 12 Q4 12 Q2 13 Q4 13 Q2 14 Change in Demand (LHS) Change in Supply (LHS) Vacancy Rate (RHS)

Largest deals of the year*

Address Size Occupier Landlord/Seller Tenant/Buyer Month sq ft Agent Agent

1 30 North Colonnade 205,341 KPMG JLL, DTZ N/A Aug-13

2 25 Churchill Place 205,039 EY CBRE, GM Real Estate, Cushman & Feb-14 JLL Wakefield 3 1 Canada Square 152,226 Bank of New York JLL, CBRE N/A Jan-14 4 Citi Tower 61,026 International Power Cushman & Wakefield, Deloitte Real Estate May-14 Knight Frank 5 1 Canada Square 54,998 Highspeed Two (HS2) Deloitte Real Estate GM Real Estate Mar-14 6 1 Canada Square 54,224 HSBC Bank CBRE, JLL CBRE Sep-13 7 10 Upper Bank St 52,555 Infosys CBRE, GVA Deloitte Real Estate Jul-13 Technologies 8 1 Canada Square 47,016 MDU Services JLL, CBRE, GM Real N/A Apr-14 Estate, GVA 9 1 Canada Square 44,702 European Banking JLL, CBRE, GM Real CBRE Jun-14 Authority Estate 10 Citi Tower 38,772 General Pharmaceuti- Cushman & Wakefield, GVA Mar-13 cal Council Knight Frank

29 London Docklands Office

Winners Office 2014(July 2013 - June 2014) *Data by collected CoStar from 1st July 2013 to 30th June 2014.

Top Agents by Availability sq ft Top Agents by Acquisitions sq ft

1 CBRE 2,445,229 1 Cushman & Wakefield 410,078 2 JLL 2,209,168 2 CBRE 131,571 3 Cushman & Wakefield 685,501 3 Deloitte Real Estate 113,581 4 Knight Frank 658,133 4 JLL 100,701 5 DTZ 559,306 5 GVA 46,491 6 GM Real Estate 249,741 6 Knight Frank 26,968 7 GVA 244,456 7 Colliers International 16,000 8 Cherryman 229,471 8 DeVono Property 3,147 9 Savills 107,625 9 Charterwood 814 10 Strutt & Parker 66,870

Top Agents by No. Instructions Top Agents by Disposals sq ft

1 Cherryman 43 1 JLL 1,185,361 2 CBRE 28 2 CBRE 924,492 3 DTZ 23 3 DTZ 296,575 4 JLL 22 4 Knight Frank 233,304 5 Knight Frank 18 5 Cushman & Wakefield 181,306 6 Cushman & Wakefield 15 6 GVA 138,795 7 Strettons Chartered Surveyors 11 7 Deloitte Real Estate 54,998 8 Sbh Page & Read 9 8 Strutt & Parker 45,111 9 Goodsir Commercial 8 9 Cherryman 42,186 10 Field & Sons (CPS) 7 10 Savills 33,272

Top Agents by Total Value of Lease Transactions (£ PA) Research 1 JLL 25,458,389 2 CBRE 16,757,897 Contact 3 Cushman & Wakefield 12,726,464 Laura Roberts 4 DTZ 8,726,993 Lynsay Dorman 5 Knight Frank 2,782,072 Research Manager 6 GVA 1,201,932 LondonWest Midlands 7 Cherryman 265,835 & South West Corridor 8 Sbh Page & Read 198,316 T: 0141 354 0786 9 Dron & Wright 112,525 T:E: [email protected] 354 0671 10 Field & Sons (CPS) 64,996 E: [email protected]

30 Editor’s Choice Winners 2014 *Data by collected CoStar from 1st July 2013 to 30th June 2014.

Dealmaker of the year

Name Rupert Cherryman Company Cherryman

Deal of the year

Name of building 25 Churchill Place Submarket Docklands Core Deal completion date 07/02/2014 Size (sq ft) 205,039 Landlord Agent(s) CBRE, JLL Tenant Agent(s) Cushman & Wakefield Rent £48.50 per sq ft Tenant EY London Docklands Office: The year in figures

transactions 62 completed

ft ft 1,384,403 ft space sq ft available 25 Churchill Place Occupancy Rate + +/ - +/ - +/ - 89.6% as at Q2 2014 Did You Know?

You don’t need to wait another year to know who the top deal makers are. 77 Agents Find the most active agents across any contributed data to CoStar geography, in real time, in CoStar Suite.

31 London Midtown Office

There have been several notable investment deals in this submarket in recent months, including Temasek’s 50% stake purchase in MidCity Place in August and China Overseas Land and Investments’ £160m Paul Norman purchase of Carmelite Riverside. Editor, CoStar News

The office sector in Midtown has been busily cementing its position as one of London’s key markets.

According to CoStar data a very strong quarter of net absorption, plus the demolition of a couple of large empty buildings, resulted in Midtown’s vacancy rate dropping sharply to 4.9% in Q2 of 2014, reflecting a drop of 200 basis points year on year. Vacancies are now 40 basis points below their 2007 floor and at their lowest point since 2001.

Take-up in the second quarter of 2014 was well above the five-year quarterly average, a figure again Africa House achieved via a number of the large early commitment deals which characterised the market in 2013.

Editor’s Choice Awards

CoStar News readers have been voting for two awards – the deal and dealmaker of the year - in each market.

There has been fierce voting from readers for a series of standout Midtown deals. The winner was Hachette UK’s move to Orion and Quadrant’s Carmelite Riverside.

Carmelite Riverside Central London agency stalwart Peter Lance of Allsop was readers’ dealmaker.

32 Eyes on the market *Data by collected CoStar from 1st July 2013 to 30th June 2014. London Midtown Office: Supply, Demand and Vacancy

Supply/Demand (000s SF) Vacancy Rate (%) 800 8%

600 7% 6% 400 5% 200 4% 0 3% 200 2% 400 1% 600 0% Q2 06 Q4 06 Q2 07 Q4 07 Q2 08 Q4 08 Q2 09 Q4 09 Q2 10 Q4 10 Q2 11 Q4 11 Q2 12 Q4 12 Q2 13 Q4 13 Q2 14 Change in Demand (LHS) Change in Supply (LHS) Vacancy Rate (RHS)

Largest deals of the year*

Address Size Occupier Landlord/Seller Tenant/Buyer Month sq ft Agent Agent

1 6 Pancras Square 160,004 Google BNP Paribas Real CBRE Apr-14 Estate, CBRE 2 Carmelite Riverside 133,978 Hachette UK CBRE, Knight Frank JLL Dec-13 3 21 Bloomsbury St 74,368 Department for Culture JLL Deloitte Real Estate Sep-13 Media & Sport 4 Holborn Place 60,961 Octopus Investments JLL, Cushman & GM Real Estate Jun-14 Wakefield 5 2 Pancras Square 52,340 PRS For Music Savills, DTZ Strutt & Parker Sep-13 6 98 Fetter Lane 48,070 MacFarlanes DTZ, Knight Frank N/A Dec-13 7 Tudor Court 47,183 Tipall CBRE, Knight Frank N/A Jun-14 8 Buchanan House 39,958 London School Of Busi- Gryphon Property James Andrew Jan-14 ness & Finance Partners, BNP Paribas International Real Estate 9 Carmelite Riverside 39,804 Gibson Dunn & JLL JLL May-14 Crutcher Trustees 10 Seven Dials 36,440 Midasplayer.com DTZ Perrins Dooley Feb-14 Warehouse

33 London Midtown Office

Winners Office 2014(July 2013 - June 2014) *Data by collected CoStar from 1st July 2013 to 30th June 2014.

Top Agents by Availability sq ft Top Agents by Acquisitions sq ft

1 Farebrother 1,226,767 1 CBRE 280,446 2 CBRE 1,209,289 2 JLL 276,547 3 JLL 975,567 3 DTZ 110,710 4 DTZ 858,397 4 Deloitte Real Estate 105,940 5 Savills 841,822 5 BNP Paribas Real Estate 89,297 6 Knight Frank 697,839 6 Cushman & Wakefield 83,137 7 Cushman & Wakefield 500,455 7 Monmouth Dean 70,429 8 Edward Charles & Partners 410,664 8 DeVono Property 65,445 9 Colliers International 391,911 9 Strutt & Parker 56,980 10 BNP Paribas Real Estate 388,203 10 Colliers International 41,982

Top Agents by No. Instructions Top Agents by Disposals sq ft

1 CBRE 92 1 CBRE 640,065 2 Farebrother 87 2 DTZ 427,839 3 Gale Priggen & Company 54 3 JLL 373,479 3 Monmouth Dean 54 4 Knight Frank 343,653 5 DTZ 53 5 Farebrother 328,909 6 Savills 42 6 Savills 321,250 7 JLL 40 7 BNP Paribas Real Estate 254,350 8 Hatton Real Estate 39 8 Hatton Real Estate 162,707 9 Colliers International 36 9 Cushman & Wakefield 137,439 10 Edward Charles & Partners 26 10 Colliers International 131,546

Top Agents by Total Value of Lease Transactions (£ PA) Research 1 JLL 22,947,980 2 DTZ 18,739,147 Contact 3 CBRE 16,120,052 Laura Roberts 4 Knight Frank 14,670,436 Lynsay Dorman 5 Farebrother 11,477,583 Research Manager 6 Savills 10,909,799 LondonWest Midlands 7 Cushman & Wakefield 7,370,275 & South West Corridor 8 Edward Charles & Partners 6,242,346 T: 0141 354 0786 9 Hatton Real Estate 5,784,874 T:E: [email protected] 354 0671 10 Colliers International 5,386,707 E: [email protected]

34 Editor’s Choice Winners 2014 *Data by collected CoStar from 1st July 2013 to 30th June 2014.

Dealmaker of the year

Name Peter Lance Company Allsop

Deal of the year

Name of building Carmelite Riverside Submarket Holborn Deal completion date 19/12/2013 Size (sq ft) 133,978 Landlord Agent(s) CBRE, Knight Frank, Tenant Agent(s) JLL Rent £54.86 per sq ft Tenant Hachette UK London Midtown Office: The year in figures

transactions 513 completed

ft ft 2,518,485 ft space sq ft available Carmelite Riverside Occupancy Rate + +/ - +/ - +/ - 95.0% as at Q2 2014 Did You Know?

You don’t need to wait another year to know who the top deal makers are. 405 Agents Find the most active agents across any contributed data to CoStar geography, in real time, in CoStar Suite.

35 London Southbank Office

good news coming for one of the UK’s most dynamic office locations.

Most of the leasing activity continues to happen in Paul Norman the London Bridge and Bankside areas, where more Editor, CoStar News than half of the Southbank’s total office stock is located.

The Southbank office market has The robust occupier story is taking place against continued to go from strength to the backdrop of a bullish investment market, most notably St Martins’ UK record breaking acquisition of strength in the period, in part aided by More London for £1.7bn in Q1 2014. the significant development around London Bridge Station that is creating a major new business location for the capital.

2014 has already seen take-up at close to record levels for the London submarket that has an ever diverse list of occupiers and investors. The expected completion of a 370,000 sq ft letting to advertising and marketing firm Omnicom Group, at Royal Bank of Scotland’s M&G Real Estate-owned offices Bankside 2 Bankside and Bankside 3 in the third quarter, is set to keep the

Editor’s Choice Awards

CoStar News readers have been voting for two awards – the deal and dealmaker of the year - in each market.

A string of deals at The Shard split the vote for Sellar Properties’ iconic scheme paving the way for Archlane and Deerbrook to win Deal of the Year for their letting to Ogilvy & Mather at Sea Containers House.

Dealmaker of the year for his work on that deal Sea Containers House among others was Mark Kleinman at James Andrew International.

36 Eyes on the market *Data by collected CoStar from 1st July 2013 to 30th June 2014. London Southbank Office: Supply, Demand and Vacancy

Supply/Demand (000s SF) Vacancy Rate (%) 1,000 14%

800 12% 600 10% 400 8% 200 6% 0 4% 200

400 2%

600 0% Q2 06 Q4 06 Q2 07 Q4 07 Q2 08 Q4 08 Q2 09 Q4 09 Q2 10 Q4 10 Q2 11 Q4 11 Q2 12 Q4 12 Q2 13 Q4 13 Q2 14 Change in Demand (LHS) Change in Supply (LHS) Vacancy Rate (RHS)

Largest deals of the year*

Address Size Occupier Landlord/Seller Tenant/Buyer Agent Month sq ft Agent

1 25 London Bridge 430,167 News Corporation Colliers International, BNP Paribas Real Jul-13 Quarter UK & Ireland CBRE Estate 2 Sea Containers 226,343 Ogilvy & Mather Group Bluebook, Cushman & Wakefield, Aug-13 House Deloitte Real Estate James Andrew International 3 The Shard 69,900 HCA Knight Frank, JLL N/A Feb-14 4 1 London Bridge 54,552 HowardKennedyFsi Cushman & Goldsmith Jun-14 Wakefield, Savills Messing, Savills 5 Sea Containers 37,512 WeWork Bluebook, N/A Feb-14 House Deloitte Real Estate 6 Riverside House 34,433 Department for DTZ N/A Aug-13 Communities & Local Government 7 240 Blackfriars Road 31,204 Ramboll UK DTZ, CBRE Braham Gold May-14 8 Cottons Centre 30,363 FDM Group Cushman & N/A Aug-13 Wakefield 9 Cottons Centre 30,000 Network Rail Cushman & BNP Paribas Real Nov-13 Wakefield Estate 10 The Crane Building 28,443 Cheil Europe CBRE, CBRE Jan-14 Colliers International 37 London Southbank Office

Winners Office 2014(July 2013 - June 2014) *Data by collected CoStar from 1st July 2013 to 30th June 2014.

Top Agents by Availability sq ft Top Agents by Acquisitions sq ft

1 CBRE 1,715,931 1 BNP Paribas Real Estate 460,167 2 Colliers International 1,423,268 2 Cushman & Wakefield 287,799 3 JLL 742,452 3 James Andrew International 226,343 4 Cushman & Wakefield 664,420 4 CBRE 77, 231 5 Knight Frank 613,548 5 Savills 59,616 6 DTZ 436,093 6 Goldsmith Messing 54,552 7 Bluebook 287,174 7 Braham Gold 31,204 8 Deloitte Real Estate 287,174 8 DeVono Property 28,932 9 Kalmars 268,666 9 Montagu Evans 23,319 10 ES (Group) 190,364 10 DTZ 15,898

Top Agents by No. Instructions Top Agents by Disposals sq ft

1 CBRE 62 1 CBRE 643,200 2 Field & Sons (CPS) 54 2 Colliers International 525,648 3 Kalmars 47 3 Deloitte Real Estate 287,174 4 ES (Group) 31 3 Bluebook 287,174 5 Cushman & Wakefield 19 5 Cushman & Wakefield 235,951 6 Colliers International 16 6 JLL 163,624 7 JLL 14 7 DTZ 129,878 8 DTZ 12 8 Knight Frank 117,599 8 Farebrother 12 9 ES (Group) 82,841 10 Masons Property Advisers City 9 10 Savills 80,454

Top Agents by Total Value of Lease Transactions (£ PA) Research 1 Cushman & Wakefield 14,870,483 2 Bluebook 11,873,475 Contact 2 Deloitte Real Estate 11,873,475 Laura Roberts 4 James Andrew International 10,185,435 Lynsay Dorman 5 CBRE 7,558,794 Research Manager 6 JLL 7,540,996 LondonWest Midlands 7 DTZ 5,817,776 & South West Corridor 8 Knight Frank 5,675,460 T: 0141 354 0786 9 Colliers International 4,044,171 T:E: [email protected] 354 0671 10 ES (Group) 2,834,644 E: [email protected]

38 Editor’s Choice Winners 2014 *Data by collected CoStar from 1st July 2013 to 30th June 2014.

Dealmaker of the year

Name Mark Kleinman Company James Andrew International

Deal of the year

Name of building Sea Containers House Submarket Southbank West Deal completion date 01/08/2013 Size (sq ft) 226,343 Landlord Agent(s) Bluebook, Deloitte Real Estate Tenant Agent(s) Cushman & Wakefield James Andrew International London Southbank Office: Rent £45.00 per sq ft Tenant Ogilvy & Mather Group The year in figures

transactions 236 completed

ft ft 1,667,174 ft space sq ft available Sea Containers House Occupancy Rate + +/ - +/ - +/ - 93.0% as at Q2 2014 Did You Know?

You don’t need to wait another year to Agents know who the top deal makers are. 180 Find the most active agents across any contributed data to CoStar geography, in real time, in CoStar Suite.

39 London West End Office

landlords continuing to report strong leasing activity above Estimated Rental Value (ERV) in their half year results for 2014.

Paul Norman Standout deals included British Land’s 87,719 sq Editor, CoStar News ft letting to Facebook at 10 Brock Street and Estée Lauder’s move to 1 Fitzroy Place in Mortimer Street.

The West End market has remained strong throughout 2014, with a number of deals commanding over £100 per sq ft.

A lack of obvious solutions for occupiers in the traditionally supply constrained West End means prelets have continued to take up a significant proportion of the transactions completed, while the TMT sector and then the financial services sector were the dominant players swallowing up space. Fears that the rental growth story in the West End was running out of steam at the beginning of the year 1 Fitzroy Place are yet to materialise, with the West End’s leading

Editor’s Choice Awards

CoStar News readers have been voting for two awards – the deal and dealmaker of the year - in each market.

Deal of the year involved British Land securing social media giant Facebook at its 10 Brock Street development, which prompted a spate of headlines about the tenant “liking” the building or clicking on to it.

Dealmaker of the year was DTZ’s West End star 10 Brock Street Richard Howard.

40 Eyes on the market *Data by collected CoStar from 1st July 2013 to 30th June 2014. London West End Office: Supply, Demand and Vacancy

Supply/Demand (000s SF) Vacancy Rate (%) 1,000 8% 800 7% 600 6% 400 5% 200 4% 0 3% 200 2% 400 1% 600 0% Q2 06 Q4 06 Q2 07 Q4 07 Q2 08 Q4 08 Q2 09 Q4 09 Q2 10 Q4 10 Q2 11 Q4 11 Q2 12 Q4 12 Q2 13 Q4 13 Q2 14 Change in Demand (LHS) Change in Supply (LHS) Vacancy Rate (RHS)

Largest deals of the year*

Address Size Occupier Landlord/Seller Tenant/Buyer Month sq ft Agent Agent

1 1 Fitzroy Place 152,424 Estee Lauder CBRE, JLL Knight Frank May-14 Cosmetics 2 10 Brock Street 87,719 Facebook Knight Frank, CBRE DTZ Oct-13 3 Henry Wood House 70,499 The Office Group Lambert Smith N/A Apr-14 Hampton 4 62 Buckingham Gate 63,831 Schlumberger Knight Frank, JLL N/A Aug-13 5 Enterprise House 45,074 Network Rail N/A N/A Oct-13 Infrastructure 6 111 Buckingham 40,415 N/A N/A Monmouth Dean Sep-13 Palace Road 7 10 New Burlington St 38,176 Tudor Capital Europe CBRE Savills Apr-14 8 62 Buckingham Gate 36,683 Rolls Royce Knight Frank, JLL BNP Paribas Real Aug-13 Estate 9 37 North Wharf Road 35,891 Instant Managed Strutt & Parker, DTZ Colliers International Sep-13 Offices 10 48 Warwick Street 34,487 Avanta Serviced Levy Real Estate, Crown Estate Nov-13 Office Group Cushman & Wakefield

41 London West End Office

Winners Office 2014(July 2013 - June 2014) *Data by collected CoStar from 1st July 2013 to 30th June 2014.

Top Agents by Availability sq ft Top Agents by Acquisitions sq ft

1 CBRE 2,484,294 1 Knight Frank 212,103 2 Knight Frank 1,430,036 2 DTZ 168,879 3 JLL 1,417,326 3 JLL 146,428 4 Cushman & Wakefield 907,990 4 CBRE 133,818 5 Colliers International 819,675 5 Monmouth Dean 129,915 6 DTZ 725,054 6 Colliers International 127,419 7 Strutt & Parker 617,471 7 GVA 95,897 8 Tuckerman 575,107 8 Savills 90,547 9 Savills 452,245 9 Cushman & Wakefield 75,757 10 GVA 400,039 10 DeVono Property 71,499

Top Agents by No. Instructions Top Agents by Disposals sq ft

1 CBRE 132 1 CBRE 1,019,888 2 Colliers International 108 2 JLL 636,498 3 Monmouth Dean 94 3 Knight Frank 521,116 4 BDG Sparkes Porter 91 4 Tuckerman 255,043 5 Knight Frank 81 5 Savills 235,877 6 JLL 68 6 Cushman & Wakefield 223,729 7 Savills 61 7 Strutt & Parker 203,888 8 Edward Charles & Partners 57 8 DTZ 186,730 8 Cushman & Wakefield 57 9 Monmouth Dean 180,257 10 GVA 56 10 Colliers International 215,341

Top Agents by Total Value of Lease Transactions (£ PA) Research 1 CBRE 34,075,243 2 JLL 28,701,795 Contact 3 Knight Frank 24,936,019 Laura Roberts 4 DTZ 17,133,602 Lynsay Dorman 5 Colliers International 16,486,691 Research Manager 6 Cushman & Wakefield 13,550,051 LondonWest Midlands 7 Savills 13,290,369 & South West Corridor 8 Strutt & Parker 11,810,527 T: 0141 354 0786 9 GVA 11,737,329 T:E: [email protected] 354 0671 10 Monmouth Dean 9,110,150 E: [email protected]

42 Editor’s Choice Winners 2014 *Data by collected CoStar from 1st July 2013 to 30th June 2014.

Dealmaker of the year

Name Richard Howard Company DTZ

Deal of the year

Name of building 10 Brock Street Submarket Noho Deal completion date 02/10/2013 Size (sq ft) 87,719 Landlord Agent(s) Knight Frank, CBRE Tenant Agent(s) DTZ Rent £62.50 per sq ft Tenant Facebook London West End Office: The year in figures 1,083 transactions completed

10 Brock Street ft ft 4,228,831 ft space Best Newcomer - London sq ft available Company Bluebook Occupancy Rate + +/ - +/ - +/ - 95.4% as at Q2 2014 Did You Know?

You don’t need to wait another year to know who the top deal makers are. 399 Agents Find the most active agents across any contributed data to CoStar geography, in real time, in CoStar Suite.

43 Western Corridor Office

major requirements from the likes of Pepsico, TK Maxx, Dixons Carphone, Amadaeus and Lidl all expected to land before 2015 arrives. And there have still been many impressive transactions that have stood out, Paul Norman particularly in West London. Deals have been harder Editor, CoStar News to get over the line but when they have come in they have been innovative and worth the wait.

The investment market for offices in the South East regional market has powered ahead in recent months thanks to soaring demand for space, plus the natural flow of capital from London to this key market as the economy recovers and property fundamentals improve.

Occupier-wise, following a promising 2013 the first half of 2014 has not yet quite lived up to expectations in terms of pen being put to paper. Take-up has been disappointing so far but there is significant demand Bridge Street Plaza, Reading and expectation of a strong end to the year, with

Editor’s Choice Awards

CoStar News readers have been voting for two awards – the deal and dealmaker of the year - in each market.

In a period when tenants have proved particularly difficult to persuade to make a move readers felt the standout deal was Nexen’s letting of Bell Hammer and Rockspring’s 82,400 sq ft Stanza building in Uxbridge. There was strong voting for dealmaker for two agents in particular who were both instrumental in a series of key Thames Valley and West London lettings including dunnhumby at 184 Shepherds Bush Road, with Bray Fox Smith’s Richard Harding just missing out to CBRE’s The Stanza Building Rob Madden, a worthy winner.

44 Eyes on the market *Data by collected CoStar from 1st July 2013 to 30th June 2014. Western Corridor: Supply, Demand and Vacancy

Supply/Demand (000s SF) Vacancy Rate (%) 1,000 18%

800 16%

600 14% 12% 400 10% 200 8% 0 6% 200 4% 400 2% 600 0% Q2 07 Q4 07 Q2 08 Q4 08 Q2 09 Q4 09 Q2 10 Q4 10 Q2 11 Q4 11 Q2 12 Q4 12 Q2 13 Q4 13 Q2 14 Change in Demand (LHS) Change in Supply (LHS) Vacancy Rate (RHS)

Largest deals of the year*

Address Size Occupier Landlord/Seller Tenant/Buyer Month sq ft Agent Agent

1 Bridge Street Plaza, 86,000 Reading Borough Strutt & Parker N/A Jan-14 Reading Council 2 Stanza Building, Uxbridge 82,403 Nexen Petroleum Knight Frank, CBRE NAI Haywards Jul-13 3 Reflex Bracknell 69,372 Honda Motor Savills, Hanover Green, CBRE Jan-14 Europe Fryer Commercial 4 Building One Vanwall 53,283 Abbott Lambert Smith Cyril Leonard Jan-14 Road Laboratories Hampton, JLL 5 Globe House 53,135 Fujitsu N/A Colliers Jan-14 Bracknell Semiconductor International 6 59 - 63 Farnham Road 45,886 Arvato Knight Frank, Altus Altus Edwin Hill Jan-14 Slough Bertelsmann Edwin Hill 7 Capitol Oldbury 42,543 Avnet Cushman & Wakefield, Colliers Apr-14 Savills International 8 Building 12, 41,088 Pernod Ricard CBRE, Gerald Eve Mar-14 Chiswick Park Cushman & Wakefield 9 2 Longwalk Road 35,843 Suntory Europe Cushman & Wakefield, Savills Nov-13 JLL 10 450 Brook Drive, Reading 31,567 Holiday Lettings Lambert Smith Lambert Smith Oct-13 Hampton Hampton

45 Western Corridor Office

Winners Office 2014(July 2013 - June 2014) *Data by collected CoStar from 1st July 2013 to 30th June 2014.

Top Agents by Availability sq ft Top Agents by Acquisitions sq ft

1 JLL 2,691,325 1 CBRE 168,859 2 Lambert Smith Hampton 2,530,955 2 Colliers International 133,742 3 Savills 2,185,882 3 Lambert Smith Hampton 116,090 4 Cushman & Wakefield 2,006,730 4 Savills 81,523 5 CBRE 1,671,942 5 Cushman & Wakefield 72,545 6 Strutt & Parker 1,583,163 6 Altus Edwin Hill 72,072 7 Campbell Gordon 1,533,291 7 Cyril Leonard 53,283 8 Knight Frank 1,533,200 8 DTZ 44,393 9 Hollis Hockley 1,357,633 9 JLL 43,221 10 Altus Edwin Hill 1,141,969 10 Gerald Eve 41,088

Top Agents by No. Instructions Top Agents by Disposals sq ft

1 Lambert Smith Hampton 219 1 Lambert Smith Hampton 421,883 2 Deriaz Slater 161 2 Savills 372,229 3 Duncan Bailey-Kennedy 153 3 CBRE 331,209 4 Hollis Hockley 127 4 Cushman & Wakefield 329,541 5 Altus Edwin Hill 125 5 JLL 291,837 6 JLL 124 6 Strutt & Parker 281,580 7 Knight Frank 120 7 Knight Frank 268,850 8 Campbell Gordon 117 8 Hanover Green 223,655 9 London Clancy 113 9 Campbell Gordon 200,253 10 Stupples Chandler Garvey 108 10 Altus Edwin Hill 141,983

Top Agents by Total Value of Lease Transactions (£ PA) Research 1 CBRE 9,700,448 2 Cushman & Wakefield 9,689,858 Contact 3 Lambert Smith Hampton 9,488,354 4 Savills 5,560,598 LynsayLaura Roberts Dorman 5 JLL 5,260,830 Research Manager 6 Knight Frank 5,259,319 LondonWest Midlands 7 Campbell Gordon 4,432,056 & South West Corridor 8 Hanover Green 2,979,098 T: 0141 354 0786 9 Colliers International 2,384,490 T:E: [email protected] 354 0671 10 Gerald Eve 1,931,136 E: [email protected]

46 Editor’s Choice Winners 2014 *Data by collected CoStar from 1st July 2013 to 30th June 2014.

Dealmaker of the year

Name Rob Madden Company CBRE

Deal of the year

Name of building The Stanza Building Submarket Hillingdon Deal completion date 22/07/2013 Size (sq ft) 82,403 Landlord Agent(s) Knight Frank, CBRE Tenant Agent(s) NAI Haywards Rent £32.00 per sq ft Tenant Nexen Petroleum Western Corridor Office: The year in figures

transactions 862 completed

ft ft 15,963,900 ft space sq ft available The Stanza Building Occupancy Rate + +/ - +/ - +/ - 86.4% as at Q2 2014 Did You Know?

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47 North West Industrial

Notable among these developers is Canmoor, which is pushing the button on speculatively building more than 500,000 sq ft of sheds across its Greater Manchester sites, while Peel Holdings is working Paul Norman through unprecedented development as it bids to Editor, CoStar News create a North West “super-region” based around its substantial landholdings, linking Liverpool to Manchester. Demand for prime industrial space in the UK has lifted this year and traditional sheds heartland, the North West ought to be in a good place to take advantage. That said, leasing has slipped back since the first half of 2013.

The problem is in part a lack of Grade A space able to satisfy the requirements of a number of large-scale occupiers that are in the market, such as Biffa, The Hut Group, Ocado, Missguided and GeoPost. That is undoubtedly encouraging developers to seek out The Pegasus, Stockport opportunities and consider speculative development.

Editor’s Choice Awards

CoStar News readers have been voting for two awards – the deal and dealmaker of the year - in each market.

There were larger lettings in the period but the winner by some distance for deal of the year was Canmoor’s signing of Foot Asylum for 133,145 sq ft at M3 Mulberry in Heywood.

For that, and Canmoor’s commitment to developing further in the North West, readers picked Mark Braithwaite as their top dealmaker.

M3 Mulberry

48 Eyes on the market *Data by collected CoStar from 1st July 2013 to 30th June 2014. North West Industrial: Supply, Demand and Vacancy

Supply/Demand (000s SF) Vacancy Rate (%) 5,000 18%

4,000 16%

3,000 14% 12% 2,000 10% 1,000 8% 0 6% 1,000 4% 2,000 2% 3,000 0% Q2 09 Q4 09 Q2 10 Q4 10 Q2 11 Q4 11 Q2 12 Q4 12 Q2 13 Q4 13 Q2 14 Change in Demand (LHS) Change in Supply (LHS) Vacancy Rate (RHS)

Largest deals of the year*

Address Size Occupier Landlord/Seller Tenant/Buyer Month sq ft Agent Agent

1 Omega North, 631,000 Travis Perkins N/A N/A Aug-13 Warrington 2 The Pegasus, 194,607 European Glass GVA, CBRE, WHR N/A Mar-13 Stockport 3 Switch Point, Bootle 160,048 KTC Cushman & Wakefield, White Rose Estates Apr-14 B8 Real Estate 4 Saturn, Liverpool 157,907 J.M.D Haulage Littler & Associates, B8 N/A Mar-14 Contractors Real Estate, CBRE 5 Bury Point, Bury 154,843 Wincanton Davies Harrison, JLL Savills Aug-13 6 Jupiter, Liverpool 143,000 Toyota Tsusho UK JLL N/A Aug-13 7 Distribution HQ, 139,370 Eddie Stobart Group N/A N/A Jul-13 Warrington 8 M3, Heywood 133,145 Footasylum JLL, B8 Real Estate Lawson Apr-14 Hubbard Lowe 9 Bee Mill, Oldham 126,480 Patterson & Rothwell Knight Frank, N/A Dec-13 Nolan Redshaw 10 Tame 115, Dukinfield 115,101 Ritrama JLL Ridley Thaw Mar-13

49 North West Industrial

Winners Industrial 2014 (July 2013 - June 2014) *Data by collected CoStar from 1st July 2013 to 30th June 2014. Top Agents by Availability sq ft Top Agents by Acquisitions sq ft

1 JLL 9,197,709 1 GVA 205,381 2 B8 Real Estate 8,138,141 2 Gerald Eve 198,334 3 CBRE 5,306,820 3 White Rose Real Estates 160,048 4 GVA 4,986,716 4 Savills 154,843 5 WHR Property Consultants 3,467,494 5 Lawson Hubbard Lowe 133,145 6 Davies Harrison 3,425,401 6 Ridley Thaw 115,101 7 Taylor Weaver 3,227,936 7 Colliers International 109,587 8 Trevor Dawson & Co 2,822,087 8 Robert Pinkus & Co 84,028 9 Legat Owen Limited 2,393,573 9 WHR Property Consultants 75,169 10 Knight Frank 2,366,783 10 CBRE 68,613

Top Agents by No. Instructions Top Agents by Disposals sq ft

1 B8 Real Estate 266 1 JLL 1,886,586 2 JLL 259 2 B8 Real Estate 1,238,032 3 Trevor Dawson & Co 248 3 CBRE 912,048 4 CBRE 246 4 GVA 698,490 5 Roger Hannah & Co 172 5 WHR Property Consultants 667,756 6 Altus Edwin Hill 170 6 Knight Frank 594,772 7 Legat Owen Limited 167 7 Colliers International 543,752 8 Taylor Weaver 160 8 Littler & Associates 380,355 9 WHR Property Consultants 156 9 Legat Owen Limited 379,523 10 Robert Pinkus & Co 138 10 Altus Edwin Hill 379,123

Top Agents by Total Value of Lease Transactions (£ PA) Research 1 JLL 6,056,080 2 B8 Real Estate 2,520,978 Contact 3 Colliers International 1,714,839 4 GVA 1,643,206 StephenLaura Roberts McLintock

5 CBRE 1,193,185 Research Manager 6 Altus Edwin Hill 1,189,483 NorthWest Midlands West Industrial 7 Savills 1,145,292 8 Gerald Eve 1,021,420 T: 0141 354 06370786 9 Knight Frank 959,439 E: [email protected]@costar.co.uk 10 Lamont Commercial 769,652

50 Editor’s Choice Winners 2014 *Data by collected CoStar from 1st July 2013 to 30th June 2014. Dealmaker of the year

Name Mark Braithwaite Company Canmoor

Deal of the year

Name of building M3 Submarket Rochdale Deal completion date 11/04/2014 Size (sq ft) 133,145 Landlord Agent(s) JLL, B8 Real Estate Tenant Agent(s) Lawson Hubbard Lowe Rent £3.00 per sq ft Tenant Footasylum North West Industrial: The year in figures 1,599 transactions completed

ft ft 44,729,539 ft space sq ft available M3 Mulberry Occupancy Rate + +/ - +/ - +/ - 87.7% as at Q2 2014 Did You Know?

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51 Scotland Industrial

This is leading to some growth in rents and capital values. Unsurprisingly, and as with offices, Aberdeen has been the standout performer as the energy sector continues to drive its position as one of the Paul Norman UK’s booming commercial property markets. That Editor, CoStar News has led to some speculative development coming forward in the Granite City, though it is less evident elsewhere in Scotland. Gathering optimism within the manufacturing sector across the UK has East of Scotland and West Lothian in particular have seen a notable uptick in transactions. seen demand in Scotland’s key industrial markets pick up significantly, and there has been a clear increase in take-up.

The long-term lack of new-build supply in key markets such as Glasgow and the west of Scotland is being exacerbated by this change in sentiment, particularly as an increasing number of estates are hitting full occupancy.

The upturn in occupier activity continues to be led by retailers and oil and renewable-related energy DC2, Motherwell companies.

Editor’s Choice Awards

CoStar News readers have been voting for two awards – the deal and dealmaker of the year - in each market.

The deal that caught readers’ imaginations was retailer Schuh’s move to take J4M8 in Bathgate at the back-end of last year.

The top dealmaker – Bryce Stewart at Colliers International – was involved in that transaction, among many others. One voter suggested Bryce had J4M8, Bathgate been involved in “1m sq ft of the 9m sq ft of industrial sold or leased in Scotland in 2013”.

52 Eyes on the market *Data by collected CoStar from 1st July 2013 to 30th June 2014. Scotland Industrial: Supply, Demand and Vacancy

Supply/Demand (000s SF) Vacancy Rate (%) 4,000 16%

2,000 14%

0 12% 10% 2,000 8% 4,000 6% 6,000 4% 8,000 2% 10,000 0% Q2 11 Q4 11 Q2 12 Q4 12 Q2 13 Q4 13 Q2 14 Change in Demand (LHS) Change in Supply (LHS) Vacancy Rate (RHS)

Largest deals of the year*

Address Size Occupier Landlord/Seller Tenant/Buyer Month sq ft Agent Agent

1 Pitreavie 260,286 FMC Technologies Colliers International N/A Aug-13 Business Park 2 J4M8 240 240,000 Schuh Colliers International, Ryden Nov-13 GVA James Barr 3 College Milton, 206,861 Premier Pan European Colliers International N/A Jul-13 East Kilbride 4 College Milton, 196,161 Abrastore Private Individual N/A Sep-13 East Kilbride 5 DC2, Motherwell 172,600 Brake Bros Cushman & Wakefield Gerald Eve Oct-13 6 Porterfield Road, 141,891 Doosan Babcock GVA James Barr, JLL N/A Nov-13 Renfrew Energy Scotland 7 Carron Works, Falkirk 125,162 Clowes Developments DM Hall N/A Mar-13 8 Royston Road, 123,996 Lidl Colliers International N/A Nov-13 Livingston 9 Edzell Base, Brechin 101,472 Peterson FG Burnett N/A Jun-14

10 7 Nettlehill Road, 96,933 Adston Lambert Smith DTZ Apr-14 Livingston Hampton, Ryden

53 Scotland Industrial

Winners Industrial 2014 (July 2013 - June 2014) *Data by collected CoStar from 1st July 2013 to 30th June 2014. Top Agents by Availability sq ft Top Agents by Acquisitions sq ft

1 Ryden 7,278,670 1 Ryden 399,892 2 Colliers International 5,337,244 2 Gerald Eve 265,959 3 JLL 4,791,939 3 DTZ 121,843 4 GVA James Barr 4,056,408 4 GVA James Barr 101,001 5 FG Burnett 3,001,605 5 BNP Paribas Real Estate 82,869 6 Graham & Sibbald 2,601,820 6 FG Burnett 78,842 7 J & E Shepherd 2,154,311 7 CBRE 61,735 8 Knight Frank 1,501,748 8 JLL 59,380 9 DM Hall 1,492,836 9 Edwin Thompson 51,710 10 CBRE 1,355,994 10 Graham & Sibbald 36,256

Top Agents by No. Instructions Top Agents by Disposals sq ft

1 Ryden 530 1 GVA James Barr 2,134,355 2 JLL 272 2 Colliers International 2,055,881 3 FG Burnett 232 3 Ryden 1,857,439 4 Graham & Sibbald 213 4 JLL 1,378,899 5 GVA James Barr 190 5 FG Burnett 1,024,648 6 J & E Shepherd 167 6 Graham & Sibbald 612,534 7 Colliers International 158 7 Knight Frank 356,695 8 Knight Frank 100 8 CBRE 334,302 9 DM Hall 88 9 J & E Shepherd 314,028 10 JA Pollock Property Consultants 64 10 DTZ 312,098

Top Agents by Total Value of Lease Transactions (£ PA) Research 1 Ryden 4,474,589 2 Colliers International 3,589,829 Contact 3 Knight Frank 1,759,243 Laura Roberts 4 Gerald Eve 1,501,200 Gordon MacDonald 5 JLL 1,431,060 Research Manager 6 Cushman & Wakefield 992,450 ScotlandWest Midlands 7 GVA James Barr 892,423 8 FG Burnett 782,053 T: 0141 354 08440786 9 CBRE 654,525 E: [email protected]@costar.co.uk 10 Graham & Sibbald 636,012

54 Editor’s Choice Winners 2014 *Data by collected CoStar from 1st July 2013 to 30th June 2014. Dealmaker of the year

Name Bryce Stewart Company Colliers International

Deal of the year

Name of building J4M8 240 Submarket West Lothian Deal completion date 04/11/2013 Size (sq ft) 224,644 Landlord Agent(s) Colliers International, GVA James Barr Tenant Agent(s) Ryden Rent £6.85m Buyer Schuh Scotland Industrial: The year in figures 1,425 transactions completed

ft ft 19,949,845 ft space sq ft available J4M8, Bathgate Occupancy Rate + +/ - +/ - +/ - 89.4% as at Q2 2014 Did You Know?

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55 West Midlands Industrial

Unsurprisingly, speculative development is back on the agenda with Warwickshire based IM Properties for instance pressing the button on bringing forward schemes at Solihull Business Park. Paul Norman Editor, CoStar News Standout deals over the voting period have included TPN’s leasing of 367,500 sq ft at Park Lane in Sutton Coldfield, DHL’s leasing of 333,147 sq ft at Valley Cross Industrial take-up in key industrial in Rugby, and Euro Car Parts leasing of 258,000 sq ft heartland the West Midlands has been at Prologis’s 594 Bonehill Road in Tamworth. increasing across 2013 and 2014 with take-up for in particular 100,000 sq ft- plus units soaring over the period.

At the same time supply is falling back leading to some evidence of upwards pressure on rents in Birmingham, the Black Country and Solihull.

Occupiers are increasingly seeking build-to-suit opportunities and those sites that can offer speedy Unit Dc4 - Park Lane, Sutton Coldfield new build solutions are having particular success.

Editor’s Choice Awards

CoStar News readers have been voting for two awards – the deal and dealmaker of the year - in each market.

Euro Car Parts’ letting at Prologis Tamworth 594 ensured that industrial giant Prologis has repeated its success of last year to land readers’ deal of the year awards.

Dealmaker of the year was Richard Meering at CBRE.

Prologis Tamworth 594

56 Eyes on the market *Data by collected CoStar from 1st July 2013 to 30th June 2014. West Midlands Industrial: Supply, Demand and Vacancy

Supply/Demand (000s SF) Vacancy Rate (%) 6,000 16% 5,000 14% 4,000 12% 3,000 2,000 10% 1,000 8% 0 6% 1,000 4% 2,000 3,000 2% 4,000 0% Q2 09 Q4 09 Q2 10 Q4 10 Q2 11 Q4 11 Q2 12 Q4 12 Q2 13 Q4 13 Q2 14 Change in Demand (LHS) Change in Supply (LHS) Vacancy Rate (RHS)

Largest deals of the year*

Address Size Occupier Landlord/Seller Agent Tenant/Buyer Month sq ft Agent

1 Park Lane, 367,500 TPN Savills, JLL, Gerald Eve N/A Dec-13 Sutton Coldfield 2 Valley Cross, Rugby 333,147 DHL Supply Chain GVA, Savills N/A Jan-14 3 Prologis Tamworth 258,000 Euro Car Parts North Rae Sanders, CBRE Nov-13 Dowley Turner Real Estate 4 RG1 Rugby Gateway 236,378 H&M Hennes & Cushman & Wakefield, Chase & Partners Apr-14 Mauritz UK CBRE 5 City Gate Park, 233,357 Task CBRE, Pritchard Group N/A Jun-14 Wolverhampton 6 Pointon Way, 231,420 Vax BNP Paribas Real Harris Lamb Nov-13 Droitwich Estate, Savills 7 Worcester Road, 229,625 Victoria Carpets N/A N/A Mar-13 Kidderminster 8 Stone Business Park 215,160 RKW Edward Symmons, CBRE N/A Jan-14 9 Attenborough House, 208,581 Luxury For Less White Druce & Brown, N/A Jul-13 Nuneaton North Rae Sanders 10 DC5, London Road, 170,500 The Freeman JLL, Gerald Eve, North Rae Harris Lamb Oct-13 Coventry Company Sanders

57 West Midlands Industrial

Winners Industrial 2014 (July 2013 - June 2014) *Data by collected CoStar from 1st July 2013 to 30th June 2014. Top Agents by Availability sq ft Top Agents by Acquisitions sq ft

1 Harris Lamb 6,823,279 1 Harris Lamb 593,953 2 JLL 5,092,180 2 CBRE 318,212 3 CBRE 5,076,144 3 Chase & Partners 236,378 4 Bulleys 4,327,753 4 Cushman & Wakefield 182,044 5 GVA 3,388,538 5 Burbage Realty 128,470 6 North Rae Sanders 3,041,197 6 Darby Keye Property 120,628 7 Andrew Dixon & Co 2,705,065 7 Lambert Smith Hampton 119,531 8 Gerald Eve 2,621,446 8 Chivers Commercial 74,226 9 Colliers International 2,485,860 9 DTZ 72,000 10 Halls Commercial 2,269,766 10 BNP Paribas Real Estate 52,937

Top Agents by No. Instructions Top Agents by Disposals sq ft

1 Harris Lamb 471 1 CBRE 1,862,194 2 Bulleys 320 2 JLL 1,489,128 5 Halls Commercial 262 3 GVA 1,434,075 3 Andrew Dixon & Co 209 4 Harris Lamb 1,396,519 4 Louis Taylor 169 5 North Rae Sanders 1,039,423 6 Towler Shaw Roberts 149 6 Savills 1,038,459 7 Siddall Jones Limited 101 7 Colliers International 908,342 8 GBR Phoenix Beard 98 8 Gerald Eve 799,428 9 Sellers Chartered Surveyors 94 9 Bulleys 771,868 10 JLL 90 10 Andrew Dixon & Co 735,475

Top Agents by Total Value of Lease Transactions (£ PA) Research 1 Colliers International 4,696,220 2 GVA 3,746,312 Contact 3 Savills 2,792,387 4 CBRE 2,492,250 Laura Roberts 5 BNP Paribas Real Estate 1,113,715 Research Manager 6 Lambert Smith Hampton 1,099,983 BirminghamWest Midlands 7 Harris Lamb 1,059,029 and West Midlands Industrial 8 Kingston Commercial Property 869,542 T: 0141 354 0786 Consultants T:E: [email protected] 354 0625 9 JLL 838,832 E: [email protected] 10 Darby Keye Property 834,153

58 Editor’s Choice Winners 2014 *Data by collected CoStar from 1st July 2013 to 30th June 2014. Dealmaker of the year

Name Richard Meering Company CBRE

Deal of the year

Name of building Prologis Tamworth 594 Submarket Tamworth Deal completion date 15/11/2013 Size (sq ft) 258,000 Landlord Agent(s) North Rae Sanders, Dowley Turner Real Estate Tenant Agent(s) CBRE Rent Tenant Euro Car Parts West Midlands Industrial: The year in figures 1,729 transactions completed

ft ft 29,918,857 ft space sq ft available Prologis Tamworth 594 Occupancy Rate + +/ - +/ - +/ - 92.8% as at Q2 2014 Did You Know?

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59 Don’t waste the moment

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