The cessation of new development following the credit crunch will create a supply gap of new product. This will occur in UK office markets at different stages and Central London will be the first market to experience it. Without a supply response, average take-up here will create an arithmetic Grade A deficit by 2011. This creates an opportunity to deliver well refurbished product into the supply gap.

Our new paper examines the opportunity and develops themes of timing, market differentials, expected performance, practical project issues, occupier opportunities and sustainability.