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London Offices Snapshot January 2021

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In this month’s London Offices Snapshot, we highlight:

  • Ongoing uncertainty is exacerbating limited occupier demand for office space, as decisions continue to be put on hold.
  • Tenant release space is still coming to the market as occupiers attempt to offset overheads and review current working practices.
  • While headline rents remain stable for the time being, we expect inevitable downward pressure as 2021 progresses, with non-prime rents falling by 7.0-8.5%
  • We do anticipate a flight to quality, as best in class buildings appeal to occupiers who want to create the safest environment for their staff. Do not rule out healthy competition for prime stock in H2 2021.
  • Price volatility, was not a feature of the market in 2020.  We still believe there is scope for yield compression for the long income segment of the market during the course of 2021.


London Offices Snapshot January 2021

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Related Experts

Guy Grantham

Director of Research and Forecasting

Research and Forecasting

London - West End

Guy has been a property research professional for 23 years and gained extensive knowledge of the UK and Global property markets. He has worked closely with a wide variety of major developers, landlords and occupiers in a consultancy capacity. Instrumental in supporting Hines' purchase of Brindleyplace for £200m, on which Colliers advised. He is now specialising in the London Office market using his extensive knowledge and experience to provide market leading insight into current occupier, investment and development trends.

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