South East Office Market Report - The growth of the knowledge sector

The Western Corridor leasing market saw tentative signs of recovery in 2021.

April 22, 2022
  • Elaine Rossall
  • Barrie David
  • Vicky Heath

The Western Corridor leasing market started to see tentative signs of recovery during 2021, as lockdown restrictions were eased. Take-up increased year on year and was virtually on par with Pre-COVID activity recorded in 2019. Activity was predominantly driven by the return of larger leasing deals with seven transactions more than 50,000 sq ft completed in 2021 compared to just one in the previous 12 months.

The TMT sector continued to drive the Western Corridor market as it has done since 2015, and the sector accounted for 26% of all take-up by floorspace. Supply saw a marginal increase, predominantly in the Thames Valley rather than in West London. Oxford and Cambridge saw a similar upward trend in supply but at a much faster rate as a record level of speculative development was completed.

The report also focuses on the “clusters” in the South East which have helped to support the strong occupier market in the region. These include:

  1. Research and development and life sciences Golden Triangle of London-Oxford-Cambridge
  2. The advanced engineering of motorsport alley between Oxfordshire, Buckinghamshire and Surrey
  3. The software development and video gaming hub of Guildford


Fill out this form to download report

There was an error submitting the form. Please try again. 


Jones Lang LaSalle (JLL), together with its subsidiaries and affiliates, is a leading global provider of real estate and investment management services. We take our responsibility to protect the personal information provided to us seriously.

Generally the personal information we collect from you are for the purposes of sending you the research you have requested.

We endeavor to keep your personal information secure with appropriate level of security and keep for as long as we need it for legitimate business or legal reasons. We will then delete it safely and securely. For more information about how JLL processes your personal data, please view our privacy statement.