Q3 2021 Central London office market report

The momentum continues to build in the Central London leasing and investment markets with an uptick in demand for office space.

November 09, 2021
  • Julian Sandbach
  • Rob Corbett
  • Chris Valentine
  • Jeremy Attfield
  • Rob Jackson
  • Elaine Rossall

Q3 saw take-up volumes record the highest quarterly totals since Q4 2019 as Covid restrictions eased. Space under offer rose quarter-on-quarter and rental growth returned to the market. Take-up was boosted by several transactions in excess of 100,000 sq ft with the TMT sector being the most active for the second consecutive quarter.

The positive story continued in the investment market with an ever-increasing weight of global capital targeting core assets and strong competition for the best assets driving price growth. Investment turnover reached £3.3 billion across the quarter, with 12 transactions in excess of £100 million. The largest transaction of the quarter was the purchase of Times Square, 160 Queen Victoria Street, EC4 for £460 million. Furthermore, overseas buyers dominated in Q3, with US and German investors each accounting for 20% of quarterly turnover. 

Read more in our Q3 2021 Central London Market Report. 

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