Strutt & Parker’s research into the office market in the South.

According to the latest research by Strutt & Parker office take-up across the South of England reached 1.05m sq ft in the third quarter of 2011, an increase of 15% from the previous quarter. Take-up for the year to date now totals 3.03m sq ft which indicates that the region is on track to match 2010's overall take-up level of 4.23m sq ft.

Strutt & Parker's research into the office market in the South includes transactions carried out on both new (Grade A) and secondary space (Grade B) throughout the key business locations in the South of England.

The research also shows that so far in 2011 the majority of deals completed have involved out-of-town properties, as a percentage of total floorspace, with 61% of occupiers taking space in peripheral locations compared to 39% opting for centrally located stock.

In a continuation of established trends Strutt & Parker's research cited occupiers from the financial and business services sector as being the most active in the area with them accounting for 44% of the deals and 1.06m sq ft of floorspace transacted so far this year. Deals involving the chemical/pharmaceutical and computer/electronic industries have accounted for 7% and 16% respectively.

Rhodri Shaw, partner in Strutt & Parker's national office agency said: "Across the South East we have witnessed quarter on quarter improvement in the level of named occupier demand, particularly at the start of the year. There is currently approximately 750,000 sq ft of accommodation under offer demonstrating that demand is beginning to translate in to real increases in take-up."