Metropolis ran an average of 635 ‘movers’ in the months of February and March 2017, some 1,271 in total. If all moves were added together the total would exceed 5.5 million sq ft of office transactions, researched by Metropolis’ unique market led intelligence team. London was the largest region with an average of 280 leads each month, but there were also strong showings from the South East, Scotland and Yorkshire. Financial services and TMT (technology and media) were the two largest business sectors planning office moves.
The business leads covered the whole UK and provided details of the size of the office occupier, its likely move dates, a description of the reasons for the move, its business sector and full contact details including an address for written inquiries, at least one telephone number and in most cases an email address. Some of the largest planned moves among the 635 leads, included leads on Apple, Deutsche Bank, Michelin and Goldman Sachs.
The February and March 2017 leads included 361 ‘identified requirements’. Which means that the company confirmed to researchers that it has current or future plans to search for alternative office space. Of these 361 searches, 238 were new office searches, not previously notified.
The most recent research also included 380 ‘potential movers’ which were mainly longer-term leads on occupiers which are considering a relocation, but have yet to make a final decision on whether to search.
Most of the remaining stories covered companies that have signed for new office space and have set a move date, including some large pre-lets and companies inviting tenders for fit-out contracts. The shortest planned move date is just over a month away, whilst the longest was mid 2020.
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