Take-up of life sciences-related space in Central London has skyrocketed since the start of 2022, data from Savills has shown.
According to the figures, 241,406 sq ft of space used for research and development work was taken in Central London over the nine months to 30 September, up from just 51,493 sq ft recorded over the same period last year.
Take up of office space so far this year across Central London has also beaten the overall take-up figure for all of 2021, which stood at 173,217 sq ft.
The move comes as supply challenges continue to persist in both Oxford and Cambridge markets, with take-up over the three quarters growing slightly year-on-year to 273,115 sq ft from 268,000 sq ft. For the whole of 2021, Savills recorded a take up in the Oxford and Cambridge region of 534,577 sq ft.
In contrast, take-up of life sciences-related space across the wider South East region and Greater London – including White City – has slowed to 91,455 sq ft from 138,093 sq ft a year before. In 2021, take-up across this area totalled 172,973 sq ft.
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