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Record demand for London office space

Record demand for London office space

Analysis by real estate services firm Avison Young shows that firms in the professional services sector took up 50% more central London office space last year than in 2021, acquiring a record 2.5m sq ft in 2022. Workspace uptake from law firms, accounting businesses and consultancies surpassed highs recorded in 2010 by 35%. The increase was driven by a spike in demand for services, as well as net zero targets that have seen firms opt for more environmentally friendly workspaces as they look to achieve their climate goals. The report also shows that London’s financial sector took up 2.2m sq ft of office space in 2022, the biggest uptake of office space since before the pandemic. However, tech, media and telecommunications firms saw their office take-up levels drop 45% below 10-year averages.

Read more: City AM

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