New ‘metaverse’ themed co-working space opens on Oxford Street Offices A new co-working space has today launched in Oxford Street which will be themed around the ‘metaverse’ and help to bring creatives and investors into one space. Office and workspace company Huckletree, which operates across some of the biggest cities in the UK, has opened London’s first dedicated hub for tech companies pioneering new digital [...]
Square Foot Mile: Corporate office space deals surged by 25 per cent in 2022 Back to the [new] office Big corporate deals for London HQs has caused office leasing volumes to surge by almost 25 per cent. The post-pandemic return to the office is in full swing, with central London take-up rising by 24 per cent this year. Of the increase, demand for high-quality space in the capital has skyrocketed with 60 per cent [...]
London flexible office occupancy rates recover to pre-pandemic levels Flexible working Flexible office spaces in central London have seen their occupancy rates recover to pre-pandemic levels, new data shows. A majority (86 per cent) of the world’s top 30 flexible workspace providers have seen now seen occupancy rates in their central London offices surpass levels of 60 per cent, a survey by Knight Frank shows. A [...]
Travers Smith calls juniors into the office for four days a week December 8, 2022 Travers Smith has become the latest City law firm to call lawyers back into the office after telling staff to spend 60 per cent of their time at work. The law firm’s new “agile working” policy calls on Travers Smith’s lawyers to come into the office for six days across every two working weeks. [...]
Legal sector talent war drives boom in London office market December 5, 2022 Britain’s top law firms are driving a surge in demand for City office buildings in their efforts to win over talent and meet their ESG goals. Law firms have taken up a record 1.5m square foot of office space in 2022, following a series of big deals involving Britain’s top firms, data from Knight Frank [...]
Demand for London offices unphased by remote work and downward economic trends November 28, 2022 Demand for office space in central London has held firm despite the ongoing work-from-home trend and economic downturn risking upending the capital’s market. Uptake of central London offices surged 63 per cent in the first nine months of this year, in comparison with 2021, according to data shared exclusively with City A.M. today by BNP [...]
Excl: London’s offices aren’t dead but will continue to feel Covid side effects ‘in immediate future’ November 21, 2022 Reports of the death of the London office have been greatly exaggerated – but policymakers must step up to ensure workers are encouraged to come to their desks. That’s the conclusion of a new report from Central London Forward, the partnership representing the city’s 12 central local authorities. Although the take-up rate of office space [...]
Workspace leaser IWG’s revenues surge as firm seeks to capitalise on hybrid working November 1, 2022 Serviced office provider IWG today said the move to hybrid working is driving demand for its workspaces after posting “strong” results that saw its revenues increase 25 per cent compared to last year. The office landlord today said its group revenues for the three months ending on September 30 were 25 per cent higher than [...]
Subdued demand sweeps London office market as Grade A stock hits decade-low October 25, 2022 Demand in London’s office market is faltering, as businesses grow increasingly picky about the quality of the spaces they occupy post-lockdown. According to property consultancy Gerald Eve, demand has fallen from its recent peak of 9.4 per cent in the second quarter of this year, to 8.2 per cent over the past few months. Political [...]
Workspace says office demand remains strong despite strike disruption and extreme weather October 13, 2022 Workspace said demand for office space in the second quarter remained resilient, despite extreme hot weather and tube and rail strike disruption. The flexible working space firm reported strong conversion of demand into lettings with 317 lettings completed in the quarter and 642 lettings in the first half, with a total rental value of £17.5m [...]