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Activity climbs in third quarter for London office market
Research - OCTOBER 28, 2021

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Activity climbs in third quarter for London office market

by Released

The London office market’s recovery continued in the third quarter of 2021, with activity in the occupier market increasing to 2.4 million square feet, 26 percent above the previous quarter and 1.1 percent above the 10-year quarterly average, according to research from Avison Young.

Building on the momentum generated during the first half of 2021, a third consecutive increase in both the total amount of space let and the volume of completed transactions indicates that post-pandemic return-to-work and occupation strategies are being implemented by London’s occupier base.

This was underpinned by a series of large-scale commitments from occupiers, with 11 lettings above 50,000 square feet signed. This is the most in an individual quarter since the third quarter 2019, as London’s businesses continue to welcome their workforce back to the office en masse and formalize their post-pandemic occupational strategies for the years ahead.

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