2021 started at a sluggish pace for the London commercial property market. During the second quarter of the year, the market evidenced signs of recovery. Office, retail, and industrial markets registered an uptick in activity starting in April.
The main themes observed this quarter were:
- A strong appetite for high-quality office and industrial space.
- Growing investment volumes.
- Vacancy rates kept increasing, but they’re still lower than expected.
Office Market
The London office market started to show signs of recovery during the second quarter of the year. Investment volume totalled more than £2.5bn, confirming the renewed confidence of investors in the future performance of the city’s office market.
Transaction levels were up, with most transactions involving Grade A space, sub-lets and dominated by the creative, technology sectors, non-profit and public sectors. Large transactions centred around the EC2 and SE1 postcodes.
Continue reading “Overview of The London Commercial Property Market Q2 2021”
The London commercial property market entered 2021 surrounded by uncertainty. Weak economic fundamentals and pandemic-related disruption affected every sub-sector, although in different ways. During the first three months of the year, the following themes emerged: