Capita Symonds - Q4 2011 Review

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Take-up

Supply

Rental profile

Investment markets

Take-up

In Q4 take-up decreased by 29% to 323,000 sq ft, down from 456,000 sq ft in Q3. Twelve months earlier in Q4 2010 take-up amounted to 643,000 sq ft.

In the year to December rolling 12 month take-up decreased to 1.9 million sq ft, down from 2.2 million sq ft in the year to September.

Supply

In Q4 availability decreased by 4% to 2.6 million sq ft down from 2.7 million sq ft in Q3.

Over the last 12 months availability has decreased by 11% from 2.9 million sq ft available in Q4 2010.

11 Strand, WC2

Punter Southall have acquired all 32,200 sq ft of newly refurbished Grade A offices from Orchard Street Investment Management. A straight 10 year term and a rent of £62.50 per sq ft was agreed. A confidential rent free was agreed.

1 Kingsway, WC2

John Laing have signed to take 24,000 sq ft of Grade A refurbished offices over the 1st and 2nd floors from UK and European Investments. A rent of £63.00 per sq ft was agreed on a 15 year term with 28 months rent free.

37/41 Bedford Row, WC1

A private Middle Eastern Investor paid £14.6m reflecting a net initial yield of 5.2%. The building totalling 24,648 sq ft is let to Teacher Stern LLP until June 2026 at a rent equating to £32.45 per sq ft