London Office Leasing Rebounds on Demand Fueled by Finance Firms

London office leasing bounced back from Covid-era lows, with tenant floor-space expansions reaching a six-year high on rising demand from finance and professional services firms, according to broker Cushman & Wakefield.

Businesses took up 9.6 million square feet of space across the UK capital last year, of which net additional area leased by existing tenants for expansion accounted for roughly 40%, data compiled by Cushman showed. Banks and other finance firms made up for almost a third of the total space taken as hedge funds such as Squarepoint Capital grew their operations.