• London’s office market experienced a slight decline in vacancy, compressing 20 bps quarter-over-over to 18.1%, its lowest level in six quarters. This downward trend is expected to continue into 2020 as tenants experience growth and relocate out of owned premises.
  • While vacancy rates remained stable in the core at 19.2%, the suburban office market decreased 60 bps to 14.7%. Tenants are showing continued interest in the suburban office market due to various factors including free parking, brand new or newly renovated buildings and on-site amenities.


  • Continued demand for large space requirements has led London’s availability rate to compress 210 bps year-over-year to a new record low of 3.5%. Given the market’s low availability rate environment, there has been an increase in off-market transactions to fulfill tenant requirements.