Definitions Markets, Submarkets & Submarket Clusters

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2 Definitions Markets, Submarkets & Submarket Clusters Each property on the CoStar database is linked to a market, a submarket and a cluster (or group of submarkets), as well as more common forms of addressing such as street, town/city, county, postcode and region. Properties have been assigned markets, submarkets and submarket clusters using the criteria outlined below. These categories have been designed to enable efficient searching and analysis of geographical areas that share common economic and business identities. Market A Market is defined according to our impression of the UK s metropolitan areas. A metropolitan (or metro) area generally comprises an urban area, conurbation or agglomeration, together with the surrounding area to which it is closely economically and socially integrated through commuting. We have defined 47 such areas across the UK, the full list of which can be found by clicking the Market icon on a CoStar Suite search (see Screenshot A below). Markets are made up of smaller areas known as submarkets, and are the same across sectors (office, retail and industrial). Screenshot A: Submarket A Submarket is our smallest pre-defined geographical and economic unit, and is in the majority of cases aligned with the UK s local authority district boundaries. Where submarkets do not match local authority district boundaries, they have been drawn along economic and business lines by sector, through both our own research and via consultation with the industry. Examples in the office sector include Mayfair and Holborn in, Salford Quays in, and Southern Gateway in Leeds. Examples in the retail sector include King s Road and Oxford Street East in, and Buchanan Street in Glasgow. See Screenshot B for where to search for submarkets. Page 1

3 Screenshot B: Submarket Cluster A Submarket Cluster comprises a group of submarkets that share a common geographic, economic, business and often architectural identity. Clusters make up the middle tier in the market, cluster and submarket hierarchy. Key examples in the office sector include s West End (an amalgamation of nine submarkets: Knightsbridge, Marylebone, Mayfair, Noho, Paddington, Soho, St James s, Victoria and Westminster) and Leeds (an amalgamation of City Core, East Quarter, Greater Core and Southern Gateway). A key example in the industrial sector is Heathrow, which is comprised of four submarkets: Heathrow East, Heathrow North, Heathrow South and Heathrow West. Clusters have been created using both our own research and through consultation with the industry. Clusters are located within markets and can be searched upon by clicking the Submarket icon on the CoStar Suite search screen, selecting a market and then clicking on the Submarket Cluster dropdown (see Screenshot C). When selecting a cluster the system will bring back only those submarkets associated with the cluster, and searching and analysis can then begin on properties/data within this homogenous, pre-defined submarket group. Page 2

4 Screenshot C: Page 3

5 Submarket Clusters Search Guide & Popular Searches As some submarket clusters cover wide areas and cross our market boundaries, searching on them can require a bit more work on the part of the user to piece together these predefined, homogenous areas. This is particularly prevalent in the industrial sector, with key areas such as the M1 Corridor South covering a wide geography and encompassing groups of submarkets across different markets. Two such examples in the office sector are the M25 Corridor and the Western Corridor. Please see below for instructions on how to search on these areas on CoStar Suite (and to save surveys for repeat use), plus a table of key industrial and office submarket clusters. How to Execute on CoStar Suite Example: Heathrow Industrial The Heathrow Industrial cluster is comprised of four submarkets (Heathrow East, Heathrow North, Heathrow South and Heathrow West) that are spread over three markets. To search on it, you will need to select: 1. The Submarket icon on the CoStar Suite search screen, 2. in the Market dropdown, 3. Industrial in the Type list, 4. Heathrow Ind in the Submarket Cluster dropdown, 5. Bring the Heathrow North Ind and Heathrow West Ind submarkets across by clicking Add All Screenshot D: Page 4

6 The other two submarkets within the Heathrow Industrial cluster are in Berkshire (Heathrow East) and Surrey (Heathrow South), so repeat steps after changing the Market from to Berkshire, and then from Berkshire to Surrey. When all the submarkets are selected, click Apply to search upon and analyse the Heathrow Industrial Cluster (see Screenshots E & F). See below for instructions on how to save surveys/popular searches. Screenshot E: Screenshot F: Page 5

7 Saving Surveys It is possible (and recommended) to save submarket cluster searches for repeat use, to avoid having to go through the steps listed above each time. To do so, select Save Survey from the Results screen (see Screenshot G below) and click new requirement (see Screenshots H & I). Screenshot G: Page 6

8 Screenshot H: Screenshot I: Page 7

9 Table of Popular Industrial Searches NAME MARKET SUBMARKET CLUSTER SUBMARKET Heathrow Heathrow Ind Heathrow West Ind Heathrow Ind Heathrow West Ind Berkshire Heathrow Ind Heathrow East Ind Surrey Heathrow Ind Heathrow South Ind Gatwick Surrey Gatwick Ind Gatwick South Ind Sussex Gatwick Ind Gatwick North Ind Thames Gateway Thames Gateway Ind Isle of Dogs Ind Thames Gateway Ind Newham Ind Thames Gateway Ind Barking & Dagenham Ind Thames Gateway Ind Havering Ind Thames Gateway Ind Lewisham Ind Thames Gateway Ind Greenwich Ind Thames Gateway Ind Bexley Ind Essex Thames Gateway Essex Ind Thurrock Ind Essex Thames Gateway Essex Ind Basildon Ind Essex Thames Gateway Essex Ind Castle Point Ind Essex Thames Gateway Essex Ind Southend-on-Sea Ind Kent Thames Gateway Kent Ind Dartford Ind Kent Thames Gateway Kent Ind Gravesham Ind Kent Thames Gateway Kent Ind Medway Ind Kent Thames Gateway Kent Ind Swale Ind West West Ind Hillingdon Ind West Ind Hounslow Ind West Ind Ealing Ind M1 Corridor (S) Golden Triangle Hertfordshire M1 Corridor (S)-Jct 4-10 Dacorum Ind Hertfordshire M1 Corridor (S)-Jct 4-10 Hertsmere Ind Hertfordshire M1 Corridor (S)-Jct 4-10 St Albans Ind Hertfordshire M1 Corridor (S)-Jct 4-10 Three Rivers Ind Hertfordshire M1 Corridor (S)-Jct 4-10 Watford Ind Luton & Bedfordshire M1 Corridor (S)-Jct Luton Ind Luton & Bedfordshire M1 Corridor (S)-Jct West Bedfordshire Ind Milton Keynes M1 Corridor (S)-Jct Milton Keynes Ind Northampton M1 Corridor (S)-Jct Northampton Ind Northampton M1 Corridor (S)-Jct Northamptonshire South East Ind Coventry Golden Triangle-Coventry Ind Coventry Ind Coventry Golden Triangle-Coventry Ind North Warwickshire Ind Coventry Golden Triangle-Coventry Ind Nuneaton & Bedworth Ind Coventry Golden Triangle-Coventry Ind Rugby Ind Leicester Golden Triangle-Leicester Ind Blaby Ind Page 8

10 Leicester Leicester Leicester Leicester Leicester Leicester Northampton Shropshire & Staffordshire Golden Triangle-Leicester Ind Charnwood Ind Golden Triangle-Leicester Ind Harborough Ind Golden Triangle-Leicester Ind Hinckley & Bosworth Ind Golden Triangle-Leicester Ind Leicester Ind North West Leicestershire Golden Triangle-Leicester Ind Ind Golden Triangle-Leicester Ind Oadby & Wigston Ind Golden Triangle- Daventry Ind Northampton Ind Golden Triangle-Tamworth Tamworth Ind Ind West Midlands Core Birmingham Birmingham Birmingham Birmingham Birmingham Birmingham Coventry Coventry West Midlands Core- Birmingham Ind West Midlands Core- Birmingham Ind West Midlands Core- Birmingham Ind West Midlands Core- Birmingham Ind West Midlands Core- Birmingham Ind West Midlands Core- Birmingham Ind West Midlands Core- Warwickshire Ind West Midlands Core- Warwickshire Ind Birmingham Ind Dudley Ind Sandwell Ind Solihull Ind Walsall Ind Wolverhampton Ind Stratford-on-Avon Ind Warwick Ind West Midlands Lower Herefordshire & Worcestershire Lower West Midlands Ind Herefordshire & Worcestershire Lower West Midlands Ind Herefordshire & Worcestershire Lower West Midlands Ind Herefordshire & Worcestershire Lower West Midlands Ind Herefordshire & Worcestershire Lower West Midlands Ind Herefordshire & Worcestershire Lower West Midlands Ind Herefordshire & Worcestershire Lower West Midlands Ind Bromsgrove Ind Worcester Ind Herefordshire Ind Malvern Hills Ind Redditch Ind Wychavon Ind Wyre Forest Ind West Midlands Upper Shropshire & Cannock Chase Ind Staffordshire Upper West Midlands Ind Shropshire & Upper West Midlands Ind Stoke-on-Trent Ind Page 9

11 Staffordshire Shropshire & Staffordshire Shropshire & Staffordshire Shropshire & Staffordshire Shropshire & Staffordshire Shropshire & Staffordshire Shropshire & Staffordshire Shropshire & Staffordshire Shropshire & Staffordshire Upper West Midlands Ind Upper West Midlands Ind Upper West Midlands Ind Upper West Midlands Ind Upper West Midlands Ind Upper West Midlands Ind Upper West Midlands Ind Upper West Midlands Ind East Staffordshire Ind Lichfield Ind Newcastle-under-Lyme Ind Shropshire Ind South Staffordshire Ind Stafford Ind Staffordshire Moorlands Ind Telford & Wrekin Ind M1 Corridor (M) Derby M1 Corridor (M)-Derby Amber Valley Ind Derby M1 Corridor (M)-Derby Bolsover Ind Derby M1 Corridor (M)-Derby Derby Ind Derby M1 Corridor (M)-Derby Chesterfield Ind Derby M1 Corridor (M)-Derby Erewash Ind Derby M1 Corridor (M)-Derby North East Derbyshire Ind Nottingham M1 Corridor (M)-Nottingham Ashfield Ind Nottingham M1 Corridor (M)-Nottingham Broxtowe Ind Nottingham M1 Corridor (M)-Nottingham Nottingham Ind Trafford & Airport Trafford & Airport Ind Trafford & Airport Ind Airport Ind Trafford Ind Greater South Greater North Hampshire Ports Ind Greater S Ind Greater S Ind Salford Ind Greater S Ind Stockport Ind Greater S Ind Tameside Ind Bolton Ind Greater N Ind Greater N Ind Bury Ind Greater N Ind Oldham Ind Greater N Ind Rochdale Ind Greater N Ind Wigan Ind Hampshire Hampshire Ports Ind Eastleigh Ind Hampshire Hampshire Ports Ind Fareham Ind Page 10

12 Hampshire Hampshire Ports Ind Gosport Ind Hampshire Hampshire Ports Ind Havant Ind Hampshire Hampshire Ports Ind New Forest Ind Hampshire Hampshire Ports Ind Portsmouth Ind Hampshire Hampshire Ports Ind Southampton Ind Table of Popular Office Searches NAME MARKET SUBMARKET CLUSTER SUBMARKET M25 Corridor M25 Corridor NW Barnet M25 Corridor NW Brent M25 Corridor NW Harrow M25 Corridor NW Watford M25 Corridor NW Outer Watford Hertfordshire M25 Corridor NW Dacorum Hertfordshire M25 Corridor NW Hertsmere Hertfordshire M25 Corridor NW St Albans Hertfordshire M25 Corridor NW Three Rivers M25 Corridor NE Barking & Dagenham M25 Corridor NE Enfield M25 Corridor NE Havering M25 Corridor NE Redbridge M25 Corridor NE Waltham Forest Essex M25 Corridor NE Brentwood Essex M25 Corridor NE Epping Forest Essex M25 Corridor NE Harlow Essex M25 Corridor NE Thurrock Hertfordshire M25 Corridor NE Broxbourne Hertfordshire M25 Corridor NE Welwyn Hatfield Kingston upon M25 Corridor SW Thames Outer Kingston upon Thames M25 Corridor SW M25 Corridor SW Richmond upon Thames M25 Corridor SW Merton M25 Corridor SW Sutton Sussex M25 Corridor SW Crawley Surrey M25 Corridor SW Guildford Surrey M25 Corridor SW Outer Guildford Surrey M25 Corridor SW Elmbridge Surrey M25 Corridor SW Epsom & Ewell Surrey M25 Corridor SW Mole Valley Surrey M25 Corridor SW Reigate & Banstead Surrey M25 Corridor SW Woking M25 Corridor SE Bexley M25 Corridor SE Bromley M25 Corridor SE Croydon Surrey M25 Corridor SE Tandridge Kent M25 Corridor SE Dartford Kent M25 Corridor SE Gravesham Kent M25 Corridor SE Sevenoaks Kent M25 Corridor SE Tonbridge & Malling Page 11

13 Western Corridor West End Western Corridor Ealing Western Corridor Hillingdon Western Corridor Hounslow Berkshire Reading Reading City Core Berkshire Reading NW Reading Fringe Berkshire Reading SE Reading Fringe Berkshire Berkshire Western Corridor Outer Reading Berkshire Berkshire Western Corridor Slough Berkshire Berkshire Western Corridor East Slough Berkshire Berkshire Western Corridor West Slough Berkshire Berkshire Western Corridor Bracknell Forest Berkshire Berkshire Western Corridor Windsor & Maidenhead Berkshire Berkshire Western Corridor Wokingham Berkshire Berkshire Western Corridor West Berkshire Buckinghamshir e Buckinghamshire Western Corridor Chiltern Buckinghamshir e Buckinghamshire Western Corridor South Buckinghamshire Buckinghamshir e Buckinghamshire Western Corridor Wycombe Oxford Oxford Western Corridor Oxford Oxford Oxford Western Corridor Outer Oxford Oxford Oxford Western Corridor South Oxfordshire Oxford Oxford Western Corridor Vale of White Horse Hampshire Hampshire Western Corridor Basingstoke & Deane Hampshire Hampshire Western Corridor Hart Hampshire Hampshire Western Corridor Rushmoor Surrey Surrey Western Corridor Runnymede Surrey Surrey Western Corridor Spelthorne Surrey Surrey Western Corridor Surrey Heath West End Knightsbridge West End Marylebone West End Mayfair West End Noho West End Paddington West End Soho West End St James's West End Victoria West End Westminster City City City Core East City City Core West City City Core North Page 12

14 City City Fringe Midtown Southbank Docklands Midtown Bloomsbury Midtown Clerkenwell Midtown Covent Garden Midtown Holborn Midtown King s Cross & Euston Southbank Southbank East Southbank Southbank West Docklands Docklands Core Docklands Docklands Fringe Fringe Fringe Hammersmith Fringe Eastern Fringe Fringe Western Fringe Fringe Southern Fringe Fringe Northern Fringe Birmingham Birmingham Birmingham City Core Birmingham Birmingham Jewellery Quarter Birmingham Birmingham Gun Quarter Birmingham Birmingham Edgbaston Birmingham Birmingham Brindleyplace Birmingham Birmingham New Street Station Birmingham Birmingham Eastside Bristol Bristol Bristol City Core Bristol Bristol Western Fringe Bristol Bristol Eastern Fringe Cardiff South Wales Cardiff Cardiff Bay South Wales Cardiff City Core North South Wales Cardiff City Core South South Wales Cardiff Cardiff Fringe Edinburgh Glasgow Edinburgh Edinburgh City Core Edinburgh Exchange & Edinburgh Fountainbridge Edinburgh Edinburgh East End Edinburgh Edinburgh New Town Edinburgh Edinburgh Old Town Edinburgh Edinburgh West End Glasgow Glasgow City Core Glasgow Glasgow Quay Page 13

15 Glasgow Glasgow Pacific Quay Glasgow Glasgow Park Area Glasgow Glasgow Glasgow Fringe Leeds Leeds Leeds City Core Leeds Leeds East Quarter Leeds Leeds Greater Core Leeds Leeds Southern Gateway Liverpool Liverpool Liverpool City Core Liverpool Liverpool Dockside Liverpool Liverpool Ropewalks & Baltic Triangle Liverpool Liverpool Eastern Fringe City Core Northern Quarter Salford Quays Piccadilly Northern Fringe Southern Fringe Table of Popular Retail Searches NAME MARKET SUBMARKET CLUSTER SUBMARKET Ret Bond Street Ret Ret Cheapside Ret Ret City Fringe Ret Ret City North ret Ret City South Ret Ret Covent Garden Ret Ret Kensington High St Ret Ret King s Road Ret Ret Knightsbridge Ret Ret Midtown Fringe Ret Ret Midtown Ret Ret Oxford Street E Ret Ret Oxford Street W Ret Ret Piccadilly Ret Ret Regent Street Ret Ret Southbank Ret Ret Tottenham Ct Road Ret Ret Victoria Ret Ret West End Fringe Ret Birmingham Birmingham Bullring Shopping Centre Birmingham Ret Birmingham Birmingham North of New Street Ret Birmingham Birmingham South of New Street Ret Page 14

16 Birmingham Birmingham Birmingham Fringe Ret Cardiff South Wales Cardiff Ret Queen Street Ret South Wales Cardiff Ret St David s Shopping Centre Ret South Wales Cardiff Ret St Mary Street Ret South Wales Cardiff Ret Cardiff Fringe Ret Edinburgh Edinburgh Edinburgh Ret Bruntsfield & Morningside Edinburgh Edinburgh Ret Leith Ret Edinburgh Edinburgh Ret Leith Walk Ret Edinburgh Edinburgh Ret New Town Ret Edinburgh Edinburgh Ret Old Town/N of Tollcross Ret Edinburgh Edinburgh Ret South of Old Town Ret Edinburgh Edinburgh Ret Edinburgh Fringe Ret Glasgow Glasgow Glasgow Ret Argyle Street Ret Glasgow Glasgow Ret Buchanan Street Ret Glasgow Glasgow Ret Sauchiehall Street Ret Glasgow Glasgow Ret West End Ret Glasgow Glasgow Ret Glasgow Fringe Ret Leeds Leeds Leeds Core Leeds Leeds North of The Headrow Ret Leeds Leeds Victoria Quarter Ret Leeds Leeds Leeds Fringe Ret Liverpool Liverpool Liverpool Ret Bold Street Ret Liverpool Liverpool Ret North Ret Liverpool Liverpool Ret Liverpool One Ret Liverpool Liverpool Ret Met Quarter Ret Liverpool Liverpool Ret Liverpool Fringe Ret Ret South Ret Ret King Street Ret Ret New Cathedral Street Ret Ret North of Market Street Ret Ret Northern Quarter Ret Ret Fringe Ret Page 15

17 Sample Maps M1 Corridor South (Industrial) Page 16

18 Golden Triangle (Industrial) Page 17

19 M25 Corridor (Office) Western Corridor (Office) Page 18

20 West End (Office) Paddington Marylebone Mayfair Noho Soho St James s Knightsbridge Westminster Victoria Birmingham (Office) Gun Quarter Jewellery Quarter Eastside City Core Brindleyplace Edgbaston New Street Station Page 19

21 (Retail) Oxford Street W Tottenham Ct Road Oxford Street E Covent Garden Midtown Cheapside City North Bond Street City South Kensington High Street Regent Street Knightsbridge Southbank Piccadilly King s Road Victoria Liverpool (Retail) Met Quarter Liverpool One North Bold Street Liverpool Fringe Ret Page 20

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