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Real Estate company Great Portland Estates said the leasing momentum was strong in the first quarter, as office rental demand continues to improve.
For the quarter to 30 June 2021, £12.7 million of new annual rent was signed, with market lettings 9.3% ahead of March 2021 estimated rent value.
In the June quarter, 86% of rent was collected to date, surpassing the pace of collections seen in all four previous quarters, teh company said.
'The improving economic backdrop, combined with the expectation that the supply of prime spaces will remain constrained over the coming years, has translated into an active leasing quarter,' the company said.
'As momentum in our markets builds, we can expect demand for our flexible and sustainable spaces to grow,' it added.