Resilience Amidst Change: Recruiter London Office Leasing Trends
We are delighted to share with you Devono’s latest insights, our look at recruitment sector office leasing in central London.
Devono’s Insights Team are pleased to share with you our latest report, Resilience Amidst Change: Recruiter London Office Leasing Trends.
The labour market has undergone significant changes since the pandemic, with the steadily reducing number of vacancies available having significant implications for candidates and recruiters alike. Combining this with a tougher economic landscape and political uncertainty, the expectation would be that recruiters would be more cautious with their leasing activity. However, instead of office take-up reducing in line with market conditions as we have noted previously, we have seen a significant commitment to the central London office market by recruitment firms in 2023. In our new report, Resilience Amidst Change, our comprehensive analysis highlights the current trends of size and location, and highlights those who have driven this latest uplift in activity.
For some key points from the report, please see below:
- 206,110 sq ft leased – down 2% on 2022 yet still up 37% on the short-term annual average
- 43 office deals transacted – highest number since 2019
- 91% of deals were for spaces below 10,000 sq ft
- The City continues to be the most sought after location with a 59% share of total leasing
Click the image below to download the report.
If you would like any further information on this report, please do not hesitate to get in touch, or alternatively you can find out more at our website www.devono.com.