Update: September 2020 – Central London Offices
With the renewed rise in coronavirus cases, previous hopes of a quick bounce-back have been dampened. Fresh guidance encouraging working from home in the UK means occupier demand is likely to remain subdued. A decline in investment was seen in most sectors in the UK in August, apart from industrial, which rose from £150m in July to £200m in August.
While the warm weather drove London footfall up 6% week-on-week up to 19th September, this remains 56% lower than the same week a year ago, and has dropped following the work-from-home announcement made on the 22nd September. With many not returning to offices and the increasing possibility of a no-deal Brexit on the cards, forecasts for central London offices remain on the downside in the near term.