Summary and analysis of Central London's current office real estate market conditions.
Insight
Central London Office Market Dynamics, Q2 2025
Leasing volumes reached 3.2 million sq.ft in Q2, which was the strongest Q2 since 2015. Volumes were boosted by several large deals, the largest being a prelet for over 400,000 sq.ft.
Supply of new build space fell to its lowest level for nearly three years, equating to a new build vacancy rate of 1.3% at quarter end.
H1 investment volumes were 60% ahead of the same period in 2024, as liquidity in larger lot sizes returned. There have been 13 completed deals in excess of £100 million, already surpassing 2024’s full year total.