2022 was another challenging year for the office sector. Across the Hurst Warne towns, take‑up fell by 22%, down 137,000 on 2021. The most striking feature of the market was the lack of sizable transactions, with the only letting over 25,000 sq ft being ADP’s 47,479 sq ft acquisition in Staines.
Many occupiers again avoided making decisions as the challenge of right sizing their occupational footprint continued, with flexible working still influencing office demand. Mixed messages, especially from larger corporates about expectations for attending the office, the macro‑economic environment and other global issues all impacted take‑up levels.
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Please look at the report download below.