The East London and Docklands office markets have followed similar trends over the past few years, with activity falling well below trend levels and an absence of larger lettings as occupiers re evaluate their requirements. Both markets saw take up of around 320,000 sq ft in 2021.
The start of 2022 has seen a divergence between the markets, with Docklands seeing 121,250 sq ft of letting, whilst the East London market has seen just under 50,000 sq ft of lettings. Take up in the Docklands market was boosted by Canary Wharf Group’s new managed office space initiative, MadeFor’s first letting of 95,000 sq ft at 40 Bank Street to Citigroup. The largest letting in East London was to coworking operator Artistic Spaces at Monier Road, E3.