Take up in the core West End markets was revised upwards in 2023, with a total of 2.68m sq ft of space acquired, marginally below trend levels. Activity last year was boosted by a strong final quarter and this has led to a more muted level of business in the first three months of this year. Overall take up in Q1 2024 was 330,200 sq ft across 105 transactions, down from 892,700 sq ft in 148 transactions in the final quarter of last year.

There was a lack of larger deals in Q1 2024, with only two transactions above 20,000 sq ft, the 28,750 sq ft letting to Databricks at Charlotte House on Windmill Street in Fitzrovia, whilst Campbell Lutyens pre let 26,740 sq ft at Carlton House Terrace in St James’s.

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