The King Sturge quarterly bulletin on UK occupier trends tracks the companies and sectors that have been most active in acquiring office space during Q2 2009. The analysis covers deals over 4,645 m² (50,000 ft²) in Central London, over 2,320 m² (25,000 ft²) in the Thames Valley and over 929 m² (10,000 ft²) in the key regional centres.

• Take-up rises by 32% from a very low Q1
• 50% of take-up from just four deals
• Number of lettings falls to record low
• Most active sectors are government and industrial
• Manchester is most resilient city
• Central London figures more stable despite low level of enquiries

The latest edition highlights the following trends observed from Q2 2009 activity.

• In Q2 2009, a handful of very large deals meant that take-up rose by 32% to a total of 1.4 million ft²; this follows an exceptionally weak first quarter however year-on-year, take-up was still 25% lower. Only 30 significant deals took place in the three months to June.
• The steepest fall in demand for offices has been witnessed with business services firms which are traditionally the biggest occupiers of office space. Take up from the sector was half the average level in Q2 2009.
• Public sector occupiers helped maintain momentum by acquiring 38% of the UK total whilst take-up from industrial firms was well above average in Q2.
• The downturn in occupiers markets has been strongest in London and the Thames Valley. By contrast, demand for offices in Manchester has been particularly strong; over the past year the city has accounted for 20% of national take-up, with the amount of space occupied in Q2 amounting to twice the average level.

A copy of the latest King Sturge Occupier Trends can be downloaded here.