Office take-up across the Grade B / sub-5,000 sq ft market has seen a further increase, accounting for 44% of the total take-up in Q4 (37% performance overall in 2012). Occupiers are using lease events to downsize and relocate, with landlords of this type of space now beginning to concentrate on value for money.
Total take-up for the quarter reached 68,482 sq ft, which is a slight increase on both Q3 figures and that for Q4 2011. However, it is almost 50% less than the first two quarters of the year.
For a detailed breakdown of city centre take-up, please click here.