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Our View

Prime rents in the office sector within the Glenny region have remained stable across most locations having recovered the ground lost in the early stages of the pandemic, increasing by 1.1% on average from pre-pandemic levels by the end of Q1 2021. The movement in rents across sub-markets has been varied with the strongest recoveries being seen in North London & Herts and Essex markets, where values have moved back to £30 per sq ft. The first signs of rents falling back have been seen in south east London & Kent where values in Greenwich have fallen from £35 per sq ft at the end of 2018 to £27.50 per sq ft at Q1 2021, and whilst the market recovered some lost ground in the early months they remain 1.8% lower than values at the start of lockdown. Prime rents in east London are down by 6.3% at £45 per sq ft.

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Market Comment

Prime rents in the office sector within the Glenny region have remained stable across most locations, although the first signs of rents falling back have been seen in South East London & Kent, where values in Greenwich have slipped back to £28.00 per sq ft from £35.00 per sq ft at the end of 2018. 

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John Bell

John Bell

Managing Partner
020 3141 3500
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