Take-up of office space in London rebounded to 2.81m sq ft in Q2 2026, 4% above the 10-year quarterly average and 19% higher than the previous quarter, according to Colliers’ latest Office Snapshots.
In the West End, take-up reached 1.25m sq ft during Q2, 29% above the long-term average and the strongest quarterly performance in more than two years.
Grade A space accounted for 76% of all transactions across the capital and technology-led businesses continued to play a key role in shaping occupier demand.
In London, AI companies accounted for 19% of office take-up during Q2, making the sector the largest source of demand during the quarter. Major transactions included Anthropic’s 158,000 sq ft commitment at 1 Triton Square (pictured) and OpenAI’s 88,500 sq ft letting at Regent Quarter.
Charlotte Ashton, head of London leasing at Colliers, said: “Despite the volatile macroeconomic landscape, which has created uncertainty almost every year since Brexit in 2016, occupiers have continued to press ahead with real estate decisions. The investment market has been buoyed by this positive occupational story, with the flight to high quality space driving rental growth and increasing competition for the very best buildings.
“Location remains king, and brilliantly designed buildings with best-in-class amenities are outperforming the market. It is no longer sufficient to simply install bike racks and showers, with landlords increasingly balancing the loss of net internal area (NIA) against the potential rental uplift from premium amenity spaces such as rooftop pavilions, fitness studios and client lounges.
“Looking ahead, we expect an even greater focus on wellbeing, with plunge pools, saunas and meditation spaces joining the long list of occupier requirements. Landlords must ensure their buildings stand out during viewing tours through the design and quality of receptions, WCs, roof terraces and communal areas. Thoughtful design creates a distinct sense of personality and identity, making buildings more memorable and attractive to prospective occupiers.”
