Workspace hails ‘solid start’ to the year as lettings rise

Demand for flexible office space is now back at pre-pandemic levels, Workspace Group has reported. The London-focused group said it received an average of 947 enquiries per month in the three months to June 2021, up from last year’s 506. Lettings have also risen to 125 per month from 43. It added that vacancies were also falling, slightly, with occupancy rising by 1.1% to 82.7%. However, rent per sq ft fell by 2.4% to £35.69, although this was half the decline experienced in the previous quarter. Boss Graham Clemett said: “This performance reinforces our confidence that we have come through the worst of the pandemic and are now on a clear positive trajectory. Whilst we expect a degree of uncertainty to remain in the near-term, we are seeing strong signs that London’s businesses are returning to work and are optimistic about the future.” He added that changing guidance on working from home should lift the firm’s fortunes over the next quarter. “This is a solid start to what we expect to be a positive year for Workspace,” he concluded. To send feedback, e-mail piers.wehner@eg.co.uk or tweet @PiersWehner or @EGPropertyNews