We are pleased to share our latest edition of DeVono’s Central London Office Market Snapshot for Q1 2023.
The end of 2022 was marked by mounting inflationary and recessionary pressures and widespread uncertainty. Whilst the start of the year has seen business confidence rebound a little, firms have remained cautious with their office strategy in Q1 2023, filtering through to reduced leasing, which in turn has given rise to higher availability levels. The latter being further stimulated by a raft of new developments.
Prime rents continued to rise, with the very best quality spaces setting new high benchmarks for some locations. However, those occupiers that are more amenable to flexible spaces can breathe a sigh of relief as the growth of serviced pricing has slowed this quarter.
In this edition, we take a close look at office market activity across Q1 2023, we highlight the latest trends in office leasing, rents, availability, and serviced office pricing.
Here are some of DeVono’s highlights from the London Snapshot:
Download the full report here.
Here is what to expect from our insights on the latest market dynamics and trends that are influencing workplace decisions.
PG 2: Central London Office Market Snapshot Infographic providing a roundup of the key market trends from Q1 2023
PG 3: Office leasing headlines: Quarterly office take-up, average deal size, average lease length.
PG 3-4: Office leasing activity in detail: Share of total leasing by sector, largest deals transacted this quarter, share of total leasing by central London submarkets, trend of number of leasing deals.
PG 5: Office availability highlights: recent trends, office availability by submarket, boost in volume of Grade A space, future outlook.
PG 6: Office rent highlights: accelerated rental growth, Q1 market rent guide by grade and submarket.
PG 7: Flexible office price guide: key trends and outlook, flexible office pricing for serviced office and managed office by submarket.
PG 8: Exclusive with DeVono: Check out office space that we are disposing of on behalf of our clients.
PG 9: Other DeVono Publication Insights
Click on the report image below to download the document.