Public services, tech, financial-focussed, health and life science sectors are recovering quickest, feeding through into take-up volumes. Some markets maintained year-end momentum with positive 12-month rolling take-up figures, helped by increasing numbers of larger-sized deals. Occupiers try to secure “best-in-class” product that meets an ever-expanding list of “COVID-19 & ESG-amenable” criteria, but limited options maintain a competitive marketplace.
“Grey-space” vacancy is beginning to plateau, with drop-offs between 5-15% registered. Overall market vacancy remains healthy, with most markets below 10%. Obsolete office space will be re-positioned/re-purposed as landlords are reluctant to refit/refurb existing stock under current conditions, becoming part and parcel of the rebalancing of cities while working towards a more sustainable and ESG conscious future. Find out more in our report.