***Financial Services Sector Lead the Bounce back in West End Office Take-up in 2021***

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  5. ***Financial Services Sector Lead the Bounce back in West End Office Take-up in 2021***

Our latest research shows that Office lettings to the financial services sector accounted for a huge 53% of total letting activity in the core West End markets in the first two quarters of 2021, up from 26% in 2020. The surge in activity has helped to boost letting figures in the sectors traditionally preferred sub-markets of Mayfair and St James’s, where lettings to the sector have totaled more than 160,000 sq ft in the first half of the year, and has also spread into other nearby sub-markets such as Marylebone and Soho, where financial services companies have taken more than 140,000 sq ft.  Key deals in H1 2021 have included;

  • Brevan Howard taking 71,800 sq ft at 82 Baker Street
  • Waypoint Capital acquiring 34,384 sq ft at 1 Berkeley Street
  • EQT leasing 29,220 sq ft at 30 Broadwick Street
  • Genesis Investment Management taking 11,410 sq ft at 16 St James’s Street

Looking ahead the trend looks set to continue, with financial services dominating our active demand figures at the end of June 2021, accounting for 32% (800,000 / 2.5m sq ft) of requirements, despite the strong levels of take up already seen. Requirements from the creative industries (DAMIT – design, advertising, marketing and PR, media, internet, and telecommunications and technology) continues to gain momentum, accounting for 25% of overall demand.

For more information on these regulations as well as all your central London property requirements, please contact us on 020 7629 1088 or email info@bdgsp.co.uk.