Office take-up across the Southeast England and Greater London markets in 2024 was the highest in five years, according to Knight Frank. Leasing volumes totaled 3.6 million square feet, 5 percent higher than last year, driven by occupiers gravitating toward the region’s newest, prime workspaces.
Demand was almost exclusively concentrated within new, grade A office buildings, which accounted for 80 percent of all space taken over the 12 months. Johnson & Johnson’s 97,488 square feet pre-let at Maidenhead’s Tempo development was 2024’s largest letting deal.
The final quarter of the year witnessed 888,049 square feet of space transacted across 115 deals, the highest in 2024, including pharmaceutical giant Novo Nordisk’s 61,020 square feet letting at Oxford’s Iversen Building. Approximately 60 percent of deals over 2024 were completed in town center locations where supply of best-in-class space is most constrained.
Oxford was the busiest market over