South East Offices
Key towns update of activity
Arlington Business Park
DATA & ANALYSIS
Principal, South East Offices
Welcome to Avison Young’s South East third quarter update which focuses on 10 key markets, made up of in town and out of town markets, covering the whole of the south east geographical area. In this update we look back at Q3 where the effects of measures put in place to combat Covid 19 began to bite in terms of both take up and investment activity across the South East office market.
SOUTH EAST OCCUPATIONAL OUTLOOK
If we thought Q2 was bad as the country came through lockdown, Q3 failed to bring the anticipated return to work for more office-based workers after schools went back in September. Any resurgence in occupier activity, just as occupancy numbers began to increase, were dealt a further below with the governments advice to work from home if possible.
Director, South East Offices
Investment activity in Q3 has picked up markedly, with a number of key major transactions taking place: Reading International (£120m), Bourne Business Park (£76.7m) and Aviva’s Project Symphony (£59.71m).
SOUTH EAST KEY TOWN ACTIVITY
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