The 14 Largest Occupiers Looking For Space In London Right Now
London’s office leasing market is doing well, with take-up increasing in 2017 in spite of economic and Brexit-related nervousness.
The lack of new supply in London offices has been well covered. And a report on the London office sector from research firm Green Street Advisors paints a positive picture when it comes to demand.
Green Street points to data from JLL showing there is 9.6M SF of demand for London offices — 10% higher than the 10-year average. There is 4.4M SF of demand from larger occupiers, with 1.1M SF coming from creative industries and 1.5M SF from the financial sector.
Here are the biggest occupiers looking for space right now, according to Green Street and CBRE.
Facebook has only just moved into a new office in Rathbone Place in the West End but it is already on the lookout for another 700K SF, with King’s Cross Central the likely destination for the social media firm.
French cosmetics firm L’Oréal, advised by Cushman & Wakefield, is on the lookout for 150K to 200K SF in London ahead of a 2019 lease expiry at its 90K SF office at 255 Hammersmith Road.
The property industry is getting in on the act when it comes to major office moves. JLL is looking for up to 180K SF, which will see it consolidate 2,000 staff from three offices into one location.
Financial services firm Northern Trust is looking at potentially moving out of the building in Canary Wharf that bears its name, and has a 150K SF office requirement.
U.S. law firm Kirkland & Ellis is looking to make a big expansion out of its 32K SF home in the Gherkin with a 150K SF office requirement.
Those are the moves of more than 150K SF. Green Street and CBRE identify a further nine companies looking for between 100K SF and 150K SF: American Express, Axcel, BGC, Bank of Montreal, CMA, Funding Circle, McCann, Old Mutual and Sony.
