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Midtown is the area of London between the City and the West End. It includes submarkets such as Holborn, Chancery Lane, and Bloomsbury. Historically, it has been a popular location for solicitors to set up offices due to its proximity to the courts. However, as more occupiers branch out from their traditional pockets, the take-up in Midtown is increasing significantly.
As a neighbour of both the West End and the City, Midtown is ideally placed to provide alternative office locations to occupiers from both areas. The rise in popularity is shown by take-up increasing by 1 million sq ft from 2016.
Eugene O’Sullivan, a Chartered Surveyor at Morgan Pryce, says; “Many of our clients from the DAMIT sector (Design, Advertising, Media, Internet, and Technology) are making Midtown their new home as it provides a range of building styles which appeal to a variety of occupiers.”
Indeed, 27% of demand in Q3 this year is made up of DAMIT occupiers, while 24% is serviced offices, and 11% is banking, finance and insurance.
This news was brought to you by Morgan Pryce, a specialist tenant acquisition agent with offices in Oxford Circus and the City. Morgan Pryce specialises in search, negotiation and project management and works exclusively for tenants.