Capita Symonds - Q4 2011 Review

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Take-up

Supply

Rental profile

Investment markets

Take-up

In Q4 take-up decreased by less than 1% to 799,000 sq ft down from 802,000 sq ft in Q3. Twelve months earlier in Q4 2010 take-up was 772,000 sq ft.

In the year to December rolling 12 month take-up increased very slightly to 3.08 million sq ft up from 3.05 million sq ft in the year to September.

Supply

In Q4 availability increased by 17% to 7.3 million sq ft up from 6.2 million sq ft in Q3.

Over the last 12 months availability has increased by 7% from 6.8 million sq ft available in Q4 2010.

100 Leadenhall Street, EC3

Aon have completed the pre let of 191,000 sq ft on the lower 10 floors with an option to take a further 80,000 sq ft. The overall rent was £56.00 per sq ft on a 19 year lease with three years rent free.

The Willis Building, 51 Lime Street, EC3

Arc have taken 17,872 sq ft on the 2nd floor on a 10 year sub lease with a 5th year tenant break from Willis. The rent was agreed at £52.50 per sq ft with an initial 12 months rent free and another 12 months after the break.

25 Monument Street, EC3

A private Greek investor paid £30.3m reflecting a net initial yield of 6%. The building totalling 64,760 sq ft is let to Lloyds TSB for a term expiring 2022 at a rent equating to £30 per sq ft.