In our latest Central London Office Market Snapshot, we examine how economic headwinds are shaping office demand, pricing, and availability of office space across the capital. We also provide a focused lens on how occupiers are navigating the increasingly nuanced leasing landscape.
Key insights from the report include:
Leasing Slowdown: the volume of space leased dropped significantly on the previous quarter despite transaction numbers remaining above the long-term quarterly average.
Financial Leads: the financial sector continues to register the largest share of space leased while the professional sector remains the key contributor to the deal count.
City’s Rising Share: the City accounted for 47% of all space leased, as Midtown demand wanes.
Limited Choice: despite record-high availability of Grade A space, occupiers face real constraints, particularly in fringe and mid-sized markets, when searching for best-in-class options.
Rents on the Rise: 6 markets see Grade B rents increase this quarter with the City seeing an 11% jump, while Grade A rents in the most expensive markets push to new highs.
Serviced Stability: pricing of serviced office spaces remained stable in Q1 2025 as occupiers move to secure spaces earlier and on a longer-term.
To explore these findings in full, download the Central London Office Market Snapshot: Q1 2025. If you’d like to discuss how these trends may impact your current or future space requirements, we’d be happy to speak.
If you would like any further information on this report and its insights, please do get in touch or alternatively you can find more on our website at www.devono.com
