The Essex office market has remained below trend levels of activity over the past three years and the past fifteen months, in particular, has been dominated by lettings of below 10,000 sq ft.  There has been only one transaction above 10,000 sq ft since mid 2023, which completed in Q2 2024.

Total take up in the first three quarters of 2024 has been 64,000 sq ft, with the largest letting at the recently refurbished Hyatt Place on Broomfield Road Chelmsford where global logistics company Woodland Group took 10,500 sq ft at a rent of £17.14 per sq ft.  Woodland have relocated their head office and administrative function from their distribution facility on Montrose Road Chelmsford.