Office leasing activity in Central London is on track for its strongest year since 2019, according to the latest research from JLL.
JLL’s research shows that year-to-date leasing activity totalled 7.9m sq ft across Central London – 10% above the 10-year year-to-date average of 7.1m sq ft – and is expected to exceed 10m sq ft for the second consecutive year.
West End take-up of 3m sq ft is 25% ahead of 2025 and 15% above the five-year average. Activity has been driven by sustained demand from technology and banking and financial occupiers, which accounted for 62% of take-up.
In Q3, activity in the City increased 82% on the previous quarter to stand at 4.4m sq ft. Year-to-date leasing volumes are now 13% above the long-term average, driven predominantly by the banking and finance sector, which accounted for 29% of take-up.
The volume of space under offer reached 4.8m sq ft at the end of Q3, representing a 17% increase compared with September 2025 and a 57% surge above the 10-year average of 3.1m sq ft.
Alex Browning, head of West End office agency at JLL, said: “The Central London office market continues to demonstrate remarkable resilience despite broader economic headwinds, both domestically and globally. With accommodation under offer climbing 57% above the 10-year average, we are confident that 2026 will exceed 10m sq ft in total leasing activity. The return of large-scale transactions and surging demand from a diversity of sectors in H2, particularly the rapid growth of AI businesses, underscores London’s enduring appeal as a global business hub.”
