Summary and analysis of Central London's current office real estate market conditions.
04 August 2026
Insight
04 August 2026
Central London Office Market Dynamics, Q2 2026
Categories:
Take-up reached 2.6 million sq.ft. in Q2 2026 —up 15% quarter-on-quarter and above the 10-year average —led by a strong West End performance.
The TMT sector accounted for 33% of take-up driven by a wave of AI occupier activity, with Anthropic, OpenAI and PromethiusAI among those transacting in the quarter.
Supply contracted for a third consecutive quarter, resulting in a vacancy rate of 8.6% while space under construction was at itslowest level since Q3 2021.
Prime rents rose to £190.00 per sq.ft. in the West End and £95.00 per sq.ft. in the City.