London North

London North encompasses key roads such as the A10 and North Circular, as well as southern parts of the M1, M11 and A1, and is one of the more densely populated of all regions. It is also one of the largest of our regions in terms of stock and output, with strong levels of take-up and development in 2020. These volumes look to continue to increase with the region also attracting significant investor interest and the creation of new sites for future development.

Developers are confident in this region and the delivery of speculative schemes by the likes of SEGRO, Panattoni and Graftongate at the end of 2020 meant that the overall availability rate nudged up to 8%. This region has a strong history of attracting occupiers to speculative space and has seen one of the strongest prime rental growth profiles of all regions. With further development activity expected in Borehamwood, Harlow, Waltham Cross and Leighton Buzzard and the delivery of schemes in Hemel Hempstead and Enfield in 2021, we forecast an average 1.5% prime rental growth over the next 3 years.