It’s a tenant’s world: In the London office market, quality and location are more important than ever

Recent headlines on the London office market make interesting reading. Pret A Manger, the sandwich-shop chain, reported that its sales returned nearly to pre-pandemic levels in the City and Canary Wharf in March, and commuting reportedly has increased by 20 percent since January. What is more, £5.3 billion (€6.2 billion) reportedly has been invested in London offices in the fourth quarter of 2021, according to JLL — the highest figure since 2018  — and the U.K. capital experienced a first-quarter high of £4.9 billion (€ 5.7 billion) of investment in the first quarter of 2022, with £5.1 billion (€5.9 billion) more under offer. Momentum in the leasing market continued into the first three months of 2022, with 2.4 million square feet (223,000 square meters) let across central London.

The London office is, it would seem, well and truly alive. But what is the reality behind the headlines? What are occupiers really looking for in their office space and how is the mark