The 2022 edition of our office real estate Movers & Shakers report analyses the key relocation trends based on 2021 Central London leasing data.
This report presents the current composition of occupiers in the market and depicts how this has evolved over the years.
Ben Cullen, Head of Offices UK:
“The City Core has excelled at attracting firms looking to relocate. There are a few reasons for this, chief among them the ‘flight to quality’ in the office market with developments and redevelopments in the heart of the city setting new standards for workplace environments that energise employees, promote wellbeing and have strong sustainability credentials.
“We expect the post-pandemic evolution of London’s office market to continue as occupiers focus upon easily accessible, high quality office space surrounded by vibrant amenities. The key will be about creating locations where talent wants to be.”
We analysed 398 Central London leasing transactions over 5,000 sq ft – 8.6 million square feet in total – that took place across 2021, dissecting the data by a combination of metrics and categories including relocation type, submarket, business sector and size.
The data shows that the pandemic, and the subsequent changes in working patterns, have not deterred new businesses from acquiring space in Central London last year, with numbers of new market entrants recording the largest volume since we began tracking relocation trends in 2013.