Take up in the core West End markets has remained below trend in the first six months of 2023, following the strong levels of activity that were seen in the previous 12 months. Overall activity was 513,500 sq ft in Q2 bringing the year to date figure to 1.15m sq ft in 347 transactions.

Pre lets continued to dominate activity, with the largest letting in Q2 being the 88,327 sq ft pre let to Chanel at BEAM’s new development at 38 Berkeley Square, with the building expected to be ready for occupation in mid 2024. The other major pre let was at LandSec’s the Lucent on Sherwood Street, where a confidential letting of 49,385 sq ft to a financial services group completed.

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