Positive change: What does the future hold for the London office market?
If the final quarter of 2020 is anything to go by, the future of the London office market looks promising. According to a recent report by Knight Frank, the London office market saw almost £5 billion (€5.8 billion) of transactions in the final quarter of 2020 alone. But do these figures give us the full picture? And is the momentum set to continue?
With Brexit no longer on the table, and a vaccine rollout in place, investors are certainly more confident about the London office market. There are a number of global investors taking a long-term view on London in the belief that occupier demand for the best office space will remain strong, as evidenced by the fourth-quarter flurry of activity. However, as much as we would all love this trend to continue, it seems unlikely that the market will return to pre-pandemic levels, at least in the short term.
The future of work and real estate
At present, most companies are naturally focused on cutting co