Central London Market Overview
Over the past few years, most major UK office markets have witnessed an occupier flight to quality. The priority seen when it comes to the leasing and acquisition of high quality office space is understandable, particularly when you consider the volatility and uncertainty that dominated the global commercial real estate market in recent times. As a wide range of businesses, particularly SMEs, continue to be unsure about whether or not in-person working will return to prior prominence. This reality makes putting pen to paper especially difficult, as physical occupancy levels remain difficult to gauge and physical spaces become harder to justify.
A flight to quality makes sound investment sense in a volatile market, largely due to high-end assets tending to at least retain their value during periods of uncertainty. Additionally, large firms with a heavy investment in the smooth transition back to the office, both in terms of time and money, have sought to secure quality space to attract their workforces back in a physical capacity.
This priority for tenancy in Grade A office space has been extremely clear in London for a number of years, resoundingly consolidating itself during the pandemic and continuing to show no signs of abating.
So, how exactly is the Central London office market faring after years of upheaval? In this Central London office market report, we take a look at the most current industry data, explore ramifications of this data, and predict where currently observed trends will lead us.
Continue reading “Central London Office Market Report Q2 2022”
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