With the easing of lockdown measures and the return to the office, the Central London leasing and investment markets showed signs of recovery.
There were clear signs of more positive sentiment at the close of Q2 as occupiers considered the return to the office after lockdown restrictions eased. The leasing market saw an increase in volumes for the second consecutive quarter with 1.6 million sq. ft. let. Space under offer increased over the quarter, rising by more than 50% to 2.3 million sq. ft. which was the highest level since Q1 2020 and 12% higher than the same point last year.
The investment market was boosted by several large deals in the city and volumes rose sharply over the quarter to £3.1bn, up from £1.2bn in Q1. This momentum is expected to continue during the second half of the year, with an estimated £4.2 bn worth of assets currently under offer and a further £6.6 bn of assets available.
Read more about London's office market in our Q2 2021 report.