Take up in the Eastern M25 office market has remained below trend levels since the start of the pandemic, with flexible working taking its toll on office demand across the region. Total take up in the first three quarters of 2023 has been 800,000 sq ft, with full year activity expected to rival or exceed the levels seen in 2023. More than 50% of activity has been focused in East London & Docklands, with the first 100,000 sq ft plus letting in Docklands since the onset of the pandemic, with Revolut taking 113,900 sq ft at YY London at Canary Wharf E14. Outside of the Docklands market, activity has been focused on lettings of below 10,000 sq ft, which have accounted for 75% of take up.
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