• Central London saw an increase in leasing transactions for the first time since the pandemic started, but at 1.3m sq ft, take-up was 56% below the 10-year quarterly average.
  • Availability continued to increase over the quarter to stand at 25.3m sq ft. This was reflected in the Central London vacancy rate which increased to 8.9% in Q1.
  • Under offers fell marginally during Q1 to total 1.8m sq ft.
  • The investment market saw a slow start to the year, down 70% quarter-on-quarter at £1.3bn.