Coworking providers bolster Central London office take-up, while APAC investors increase their activity

Following a subdued first quarter, serviced office operators and media tech companies each accounted for 18 percent of second quarter take-up in central London, outstripping banking and finance and professional services, according to BNP Paribas.

Unsurprisingly, the four largest deals from the sector came from leading providers WeWork and The Office Group; however, activity from smaller niche operators, including Knotel, Fora and Storey, also increased. This activity also contributed to a 21 percent increase in sub-5,000-square-foot deals compared to first half 2017, following a lack of activity from SMEs last year.

This also follows a trend of strong occupier activity across central London in second quarter 2018 with 3.35 million square feet of deals recorded. This brings the first half 2018 total to 7.06 million square feet, 26 percent ahead of the same period last year. In Midtown, second quarter take-up reached 0.39 million square feet, 51 percent ahead of first qu