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Office demand in Central London rising

Interestingly, statistics from Savills indicate that demand for office space in central London is currently a third higher than the five year average. Some significant office requirements have boosted this figure such as GSK's plans to relocate from its west London site and Microsoft, which is reported to be looking for at least 500,000 sq ft in its move from Reading, but Savills note that they continue to see inward movers to London since companies see London as a key tool in the war for talent.

Companies are also looking at adapting office space to create more attractive and modern ways in which to work in the more agile working environment in which we are now living.

Stevens & Bolton's Commercial Real Estate team can assist both occupiers and investors in dealing with the legal formalities surrounding lettings, alterations and development of office space.

Demand for central London offices is a third higher than the five-year average, according to the latest statistics from Savills. At the end of March 2022, requirements stood at a record 10.6m sq ft, marking a 34% uplift on the five-year average.


real estate