LR REENERGISING DEMAND

Data illustration: Active demand to drive strong leasing in 2020

Active demand is a leading indicator for the London office market. As we enter 2020, businesses across London were looking to secure approximately 10 million sq ft of office space, 13% above the long-term average.
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Categories: London Report LR Reenergising Demand
  • There are currently 63 active requirements across London looking for a minimum of 50,000 sq ft; nearly half have a search for over 100,000 sq ft.
  • As at the end of Q4 2019, there were just 16 schemes in London that could accommodate requirements of over 100,000 sq ft.
  • Active requirements across London have remained robust and diverse despite the political uncertainty over the last three and a half years.
  • The level of active requirements over 10,000 sq ft have remained at above average levels for every quarter in 2019, bar one. The last time this happened was in 2016.
  • In the West End, the technology-media-telecom (TMT) sector was the most active, accounting for 39% of active requirements in Q4 2019, followed by finance & banking (29%) and corporates (13%).
  • In the City, the professional services sector was by the most active accounting for 47% of requirements, followed by the TMT sector (26%) and finance & banking (10%).