Office leasing activity in the Greater London and South East market hit 756,000 sq ft in Q3 2024 – 10% up on the previous quarter, according to the latest data from Savills.
Take-up for the year-to-date at the end of the third quarter, stood at 2.1m sq ft – 38% up against the same period last year.
The largest deals recorded in Q3 were TUI UK signing for 81,000 sq ft at The Lumen Building at Capability Green, Luton, and Health Services Laboratories acquiring 50,100 sq ft at Building 7, Croxley Park, in Watford.
The most active business sector in the period Q1 to Q3 was manufacturing and industry – including pharmaceutical occupiers – accounting for 29% of overall take-up.
Andrew Willcock, head of Greater London and South East office agency at Savills, said: “Each quarter this year there has been a marked improvement in office take-up. Occupiers now have a clearer understanding of their working policies and spatial requirements and are keen to secure the limited prime space available in the market.”
