Central London Office Analysis
Our quarterly review of the central London office occupier and investment markets
Take-up across Central London fell to 1.0 million sq ft in Q3 2020, 7% below the previous quarter and 59% below the 10-year average.
The largest deal of the quarter was to law firm Baker & McKenzie, which signed for 153,000 sq ft at DUO, 280 Bishopsgate, EC2, followed by Netflix trebling its office space in London by taking 87,000 sq ft at the Copyright Building, 30 Berners Street, W1.
July was the strongest month, recording 45% of the quarter’s take-up. This was followed by a weak August that only accounted for 18%, before activity picked up again in September.
Activity during the quarter was driven by a diverse range of occupiers. Professional services accounted for 30% take-up, followed by the TMT & Creative and Government & Services sectors, which made up 16% of activity each.