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Central London leasing activity doubles

There were seven deals larger than 20,000 sq ft in May led by the Prudential Regulation Authority’s acquisition of 151,900 sq ft at 20 Moorgate. The TMT sector remained particularly active with two of the three largest deals of the month coming from firms operating within that sector.

Office availability in Central London decreased marginally in May but is still high by recent standards standing at 16.94m sq ft.

Space under offer increased for the third month in a row to reach 2.37m sq ft.

Dan Roberts, Executive Director, CBRE said: "The robust levels of take-up seen in May, coupled with a significant increase in under offers provide much cause for optimism in Central London. Whilst take-up levels are still below their long-term average, we are starting to see an increased level of activity from occupiers that will be driven by upcoming lease events and existing active demand."

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