1 minute to read
Wimbledon continues to be considered one of the leading South West London office markets, with a proven track record for poaching businesses from other London locations (Kingston, Putney) and wider Surrey.
Nuveen’s 40,000+ sq ft scheme at 22 Worple Road demonstrates how occupiers are now considering Wimbledon as “Urban not Suburban” given its connectivity, amenity and youthful, media orientated pool of talent. Despite the Covid-19 pandemic, it attracted new occupiers like HPD Lendscape, a software company relocating from Putney, and ATP Media from Surrey, with the latter setting a new record achieved rent of £56.00 per sq ft.
Supply remains relatively constrained. 120 Broadway is close to completion and will bring 42,400 sq ft of Grade A space to market, which is already under offer. There are question marks on timing for some of the development pipelines, so expect internal refurbishments to keep the market ticking along until another best-in-class scheme can be delivered in close proximity to the station.
Could the prime rent get closer to £60.00 per sq ft? Time will tell.
Click to enlarge image
Download the Key Markets report 2022