East London offices are home to a diverse mix of tenants, involved in sectors ranging from industry to manufacturing, technology, banking, and finance. Office-based businesses are attracted to this area due to its competitive rental rates and access to local talent.
2021 started off in East London with average prime rents of £45 per square foot. Rates for tenant controlled space were slightly lower at £42 per square foot. Asking rents were one of the few indicators that remained stable along with incentives, which currently amount to 30 months rent-free for office leases of 10 years or more.
Although rental rates experienced little changes during Q2 2021, they’re expected to decline by 10-15% by 2022, a figure substantially higher than in other London sub-markets.
As for vacancy rates in East London, they spiked to nearly 12% during the first three months of the year. Although this number is high, it’s still lower than the record-figure of 13.8% reached in 2020.
Continue reading “East London Office Space Rental Costs & Vacancy Rates 2021”
The South London office market has followed a 
London Fringe markets have a diverse occupier profile, from startups in the media and creative sectors in eastern areas like Hackney, to established tech firms in and around the Old Street roundabout. Until recently, commercial property in this area was in very high demand from both newcomers to the city and companies who relocated from other parts of London.