Demand for office space soared last month

Demand for office space was 54% higher last month than in January 2021 and 15% higher than in January 2020, just before the pandemic hit. The office sector had the strongest growth in enquiries of any sector at the start of 2022, Knight Frank said. The agency said firms were signing up to longer leases as they feel confident in committing to hybrid working policies. The London market has seen five consecutive quarters of improving take-up, Lee Elliott, head of global occupier research at Knight Frank, remarked. There is currently 3m sq ft of space under offer and 7.5m sq ft of active demand from occupiers seeking space within the next six to nine months.

City A.M.