2023 London Office Market Predictions

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The 2023 London office market looks to be characterised by a number of primary influencing factors. These drivers of change, and the trends that will be solidified as a result, include: record completions, lowering lease lengths, ongoing recovery in the flexible workspace sector, and a supply crush of prime office space due to a continued flight to quality.

Read on to find out more about how these, and other factors, are going to shape London’s prime markets in 2023 and beyond.

Stats Hinting Towards the Future of the London Office Market

  • 13.6 million sq/ft of office space is under construction
  • Around 9 million sq/ft of office space is scheduled for delivery in 2023
  • Over 50% of projects are targeting ‘Outstanding’ or ‘Excellent’ BREEAM sustainability ratings
  • Forecasts for construction price inflation have blown out to 6.1%, up from predictions of just 3.8% at the start of 2022
  • Around 12% of the West End’s under development office product is pre-let

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Types of Commercial Leases in the UK: What You Need to Know

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Commercial leases can be confusing, especially if you’ve never leased a commercial property before. There are many different types of leases, making it extremely important to understand the main differences between them to make the most informed decision for your business. Opting for the correct commercial lease based on your goals and growth trajectory can make or break your business, particularly in the early stages.

Our team of commercial property experts have put together this handy guide introducing the types of commercial leases commonly seen in the UK. Unsure of which type of commercial lease best suits your business? Read on to discover more!

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13 Desk Decor Ideas for Eye-Catching Office Spaces

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If you’re looking for a way to spice up your desk decor, you’ve come to the right place! In this blog post, we will share some of the best desk decor ideas that are both stylish and eye-catching. Whether you’re looking for a new way to organise your desk or simply want to add a little bit of personality to your workstation, these desk decor ideas are sure to inspire you.

The best part about these ideas is that they can be applied to both home workspaces and traditional office desk spaces, making them perfect for busy professionals splitting their time between remote and in-person work. So what are you waiting for? Get ready to take your desk decor to the next level!

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The Best Business Parks in London

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Central London office space can be costly, especially for small to medium-sized businesses and start-ups looking to get an early foothold. Business parks present an appealing alternative for those looking to benefit from many of the perks and amenities available in Central London industry hubs. These benefits include cutting edge technology, flexible lease terms, great fit outs, collaborative atmospheres, and access to a wide range of networking opportunities – all without the exorbitant rental prices seen in The City. 

In terms of location, London business parks are generally easier for employees to commute to. They typically provide cheap or free parking, calmer surrounds, and quick access to numerous major transport links. This ease of access makes business parks ideal for businesses that don’t necessarily need to be located in the heart of Central London.

It has been hard to narrow down a list of some of London’s best business parks, however, we have made sure to include the best from a scattering of locations in the Greater London area. By reading on, business owners can easily discover a top-tier business park near their intended area of operations, enabling them to take the plunge and put pen to paper. 

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Central London Office Market Report Q2 2022

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Central London Market Overview

Over the past few years, most major UK office markets have witnessed an occupier flight to quality. The priority seen when it comes to the leasing and acquisition of high quality office space is understandable, particularly when you consider the volatility and uncertainty that dominated the global commercial real estate market in recent times. As a wide range of businesses, particularly SMEs, continue to be unsure about whether or not in-person working will return to prior prominence. This reality makes putting pen to paper especially difficult, as physical occupancy levels remain difficult to gauge and physical spaces become harder to justify.

A flight to quality makes sound investment sense in a volatile market, largely due to high-end assets tending to at least retain their value during periods of uncertainty. Additionally, large firms with a heavy investment in the smooth transition back to the office, both in terms of time and money, have sought to secure quality space to attract their workforces back in a physical capacity.  

This priority for tenancy in Grade A office space has been extremely clear in London for a number of years, resoundingly consolidating itself during the pandemic and continuing to show no signs of abating. 

So, how exactly is the Central London office market faring after years of upheaval? In this Central London office market report, we take a look at the most current industry data, explore ramifications of this data, and predict where currently observed trends will lead us.

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Average Salary in the City of London

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cartoon of a man pointing towards the words average salary in LondonIt’s been widely reported that workers, in general, have shifted their priorities away from the long held domination of having salary as a primary concern, with work-life balance now being a core consideration for most employees. Despite this, the money on offer is still an important practical consideration for any job seeker – as not earning enough often causes stress to build in other parts of life.

In light of the continued importance of having a good salary when considering a new role – or exploring the feasibility of making a move to London – we’ve investigated the current average salaries on offer in the British capital.

Presented below is a rundown of the average salaries for multiple different industries in London, as well as the median salaries for these particular roles. Additionally, you can read further along for more in depth analysis and insights into some of London’s most highly-demanded jobs.

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Digital Transformation Across Industries: From Banking to Retail

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cartoon of a woman sitting at a desk looking at dataDigital transformation is affecting every industry in some way or another. The way we bank, the way we purchase goods and services, the way we interact with healthcare providers – it’s all changing because of the digital transformation journeys undertaken by businesses across the globe. In this blog post, we’ll explore how different industries are being transformed by digital technologies, and discuss the implications for businesses and consumers alike.

Summary of Industries Currently Affected by Digital Transformation

  1. Banking
  2. Healthcare
  3. Travel
  4. Energy
  5. Automotive
  6. Food
  7. Manufacturing
  8. Warehousing and Distribution
  9. Insurance
  10. Retail

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Employee Attitudes Towards Remote Working

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If the events of recent years have been any indication, it’s clearly safe to say that the concept of remote work is one that’s here to stay. The widespread adoption of this working model, borne out of necessity throughout the pandemic, has completely changed the way that some businesses operate. We’re now seeing entire companies and products launched off the back of the work done by completely remote workforces, buoyed by the flexibility this type of work provides and the improvements it affords work-life balance. But how exactly do employees feel about the concept of a remote working policy now that the dust has settled? Does this type of work still have major support? Or are employees slowly getting the itch to return to the structure provided by a more traditional working environment? 

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Definitive Guide to The Leadenhall Building: Everything You Need to Know

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Located at 122 Leadenhall Street, The Leadenhall Building – also known as ‘The Cheesegrater’ – is one of the most iconic skyscrapers in London. Standing as the second highest structure in London, this building has been a major attraction for tourists and business people alike. The building’s unique design, which features a series of cantilevered glass panels, has also made it a popular choice for filmmakers seeking to capture the modern skyline of London. In addition to its aesthetic appeal, the Leadenhall Building is also notable for its sustainable design. The use of double-glazed windows and rainwater harvesting systems help to reduce the building’s environmental impact, making it a model for other developers to follow. If you’re looking for a comprehensive guide to The Leadenhall Building, you’ve come to the right place! In this blog post, we will cover everything from its history to its design features. We’ll also take a look at some of the businesses that have made it their home. So without further ado, let’s get started!

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The 10 Workplace Trends Defining 2022 So Far

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The first half of 2022 has continued the drastic changes seen in the global office market over the last handful of years, pushing further evolution in the workplace and setting the stage for the future of work. But what exactly do these changes mean for employee experience and professional development, now, and into the future? Here’s an overview of the top 10 workplace trends that have been making waves in 2022, with particular emphasis placed on future of work trends that are poised to impact the business world for years to come.

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