British Land has revealed that mid-week office occupancy in central London has returned to pre-pandemic levels, marking a significant recovery from the work-from-home mandates imposed over five years ago. The growing demand for high-quality office spaces has driven record rents, with the company forecasting a 3-5% annual growth in rentals. Analysts suggest strong investment interest and a turnaround in the London office market, with predictions indicating rents could double by 2025. British Land reported a £279m profit, reflecting robust leasing and high occupancy across its properties.
British Land's mid-week office occupancy in central London has rebounded to pre-pandemic levels, leading to record rental prices as demand for high-quality spaces surges.
CEO Simon Carter noted that the demand for office spaces, amid a significant supply crunch, is expected to spur rental growth of 3-5% across the portfolio.
According to experts, the London office market shows a clear turnaround, with estimates of prime office rents doubling by 2025 compared to 2021.
British Land's demonstrated growth, marked by a £279m profit and high occupancy rates, positions it strongly in the competitive property landscape.
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