INSIGHTS
London Moves
London Moves 2025 is Cushman and Wakefield's detailed analysis of the who, what, where and why of office relocations across the Capital.
We delve into the intricacies of the market, providing thought-provoking insights and actionable data for investors, occupiers, and developers.
London Moves analyses 9.7 million sq ft of office leasing transactions across 531 deals Central London leasing transactions that took place across 2024. We dissect the data by a combination of metrics and categories including relocation type, submarket, business sector and size.
New for 2025 – We have leveraged the comprehensive data behind London Moves to create our new Expected Tenant (XTe) model. We can walk you through how this tool will assist with office occupier targeting.
Read the full report and get in touch with the team to understand how this data and insight can be applied for you.
“The 2024 edition of our annual London Moves report shows what we've felt on the ground for some time now, that occupiers are increasingly invested in getting the right workplace for their employees. We can see this through their focus on core, highly connected and well-amenitised locations, and through their trend of taking not only better quality space but also taking more of it, in order to give their employees a full range of workplaces to enable them to be at their most productive. This ability to track how occupiers' spatial preferences are changing on a case-by-case basis is what makes London Moves such a powerful insight piece for our clients.” Ben Cullen – Head of Offices, UK
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LONDON MOVES ANALYSIS
The number of deals in 2023 (545) remained high, albeit 9% lower than the volume recorded in 2022 which was a record high. As with 2022, this was driven by a high volume of 5,000-25,000 sq ft deals (438), although this was a reduction of 11% on the prior year.
There were 59 new Central London occupiers taking space across the market, in line with 2021 but marginally lower than the 2022 when 63 new entrants were recorded. Of this number, 28 occupiers were new businesses acquiring their first office space, while the remaining 31 occupiers relocated from outside of Central London, of which 12 were from within Greater London. This graph shows these new entrants by sector.
Of the companies that already had a Central London presence, 327 occupiers expanded on their prior accommodation, either through relocation or an additional office, equating to total expansion of 3.69 million sq ft. A further 92 occupiers reduced their space through relocation, a loss of 1.77 million sq ft, resulting in an overall expansionary market of +1.92 million sq ft.
CONTACTS
Kiran Patel
Associate, Head of Regional Offices and Head of Life Sciences Research
London, United Kingdom
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Cushman & Wakefield is a leading advisor to occupiers, investors and developers of office space across the UK & Ireland.