Woodmead at a glance
Woodmead is one of the office nodes currently experiencing stagnation with very little development taking place and very small growth witnessed in rental rates.
The node has lost much occupier interest due to the lack of quality office accommodation (Grade P). Stock in Woodmead is spread between Grade A (72%) and B (28%). Nevertheless, Woodmead has maintained single digit vacancy rates over the past few quarters with the overall vacancy rate currently sitting at 6.7%.
The node is not expected to see any improvement in the near future as there are no development plans announced for the area and major tenants like Deloitte are expected to move out of the node in the near future.