Here at Monmouth Dean our specialist team continue to be busy letting office space.
Many clients have been asking us about post Brexit market activity. So you will be interested to hear that our month on month viewing numbers have been almost identical to last year’s levels. This year’s monthly peak was February where we undertook 210 viewings. Surprisingly June’s viewing numbers (151) were higher than the three months prior (average per month 134). However, it is fair to point out that the number of viewings vary for differing size brackets. I.e. they have increased by 20% for units of sub 5,000 sq ft yet decreased by circa 12% for units over this size.
Traditionally there is a slight tail off of viewings in July and August compared to June, but this is not necessarily effecting the number of deals that we have signed. Since the end of June we have successfully let 12 offices and acquired 7. This average of circa 2.5 deals per week is in line with our long term average. Furthermore, the number of deals signing seems set to continue because currently a third of our total disposal instructions (71) are still under offer, 7 of these being placed in solicitor’s hands in August alone. Of the signed deals, we have witnessed an increase of companies from overseas or with parent companies and origins based abroad. This possibly explains why activity levels have not fallen significantly.
So, by playing to our strengths, we will continue to convert viewings into lettings for the foreseeable future.
If you would like to know further details on the deals we have signed we would be delighted to hear from you (firstname.lastname@example.org 020 7025 1390)