Thrive, Not Survive: capturing value in London's sub-10k office market

1 min read

A private floor with glass-partitioned offices and phone booths, empty and ready for a team.

Lease lengths are falling, and occupier expectations are climbing. Our 2024 white paper set out what that means for asset owners, and how to come out ahead.

Thrive, Not Survive combines a study of London’s sub-10,000 sq ft market with data from our own clients. The shift is stark: the average London lease signed in 2023 was 35% shorter than in 2019, and in the sub-10k segment, average terms fell from over eight years to five. When you have to win a tenant two to four times as often, the office has to work more like hospitality than real estate.

The reward for getting it right: enhanced rents of up to 13% over a traditional letting, and tenants who stay.

Key findings

The average London lease signed in 2023 was 35% shorter than in 2019, with a further 20% drop in the last year alone.
In the sub-10,000 sq ft segment, average lease lengths fell from over eight years in 2019 to five years in 2023, with breaks averaging around three.
78% of asset owners reported more enquiries for flexible offices over the past year; 67% expect demand for flexible terms to keep rising.
Get the experience right and asset owners can command enhanced rents of up to 13% over a traditional letting.
The office now competes on experience: occupiers rank collaboration, socialisation and productivity as their top reasons for being there.
A clear-eyed guide to the choice every owner faces: build a managed offering in-house, or partner with an operator.

What’s inside

With leases shorter, owners must win tenants far more often than before. This report explains how to treat a building as a product rather than an asset, and how the right service model turns occupiers into long-term customers.

Read on

There’s more where that came from.

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The definitive guide to managed offices

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The Experience Gap: Why Hospitality is the Only Way to Protect Asset Value in 2026

Capital value has moved from the concrete shell to the experience inside it. Why hospitality is now the lever that protects a building rather than a nice-to-have.

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A quiet London street of red brick mansion blocks, seen from among the plane trees of a garden square.

Which type of office is right for my business?

Traditional, serviced, managed or co-working? A clear breakdown of each office type, the term, the cost, and who it suits, to help you choose.

2 min read

Thrive, Not Survive: capturing value in London's sub-10k office market

1 min read

Lease lengths are falling, and occupier expectations are climbing. Our 2024 white paper set out what that means for asset owners, and how to come out ahead.

The reward for getting it right: enhanced rents of up to 13% over a traditional letting, and tenants who stay.

Key findings

The average London lease signed in 2023 was 35% shorter than in 2019, with a further 20% drop in the last year alone.
In the sub-10,000 sq ft segment, average lease lengths fell from over eight years in 2019 to five years in 2023, with breaks averaging around three.
78% of asset owners reported more enquiries for flexible offices over the past year; 67% expect demand for flexible terms to keep rising.
Get the experience right and asset owners can command enhanced rents of up to 13% over a traditional letting.
The office now competes on experience: occupiers rank collaboration, socialisation and productivity as their top reasons for being there.
A clear-eyed guide to the choice every owner faces: build a managed offering in-house, or partner with an operator.

What’s inside

Read on

There’s more where that came from.

The definitive guide to managed offices

What a managed office is, what's included, who it suits, and how it compares to serviced and conventional space. The complete guide from Kitt.

3 min read

The Experience Gap: Why Hospitality is the Only Way to Protect Asset Value in 2026

Capital value has moved from the concrete shell to the experience inside it. Why hospitality is now the lever that protects a building rather than a nice-to-have.

1 min read

Which type of office is right for my business?

Traditional, serviced, managed or co-working? A clear breakdown of each office type, the term, the cost, and who it suits, to help you choose.

2 min read

Thrive, Not Survive: capturing value in London's sub-10k office market

Key findings

What’s inside

Download the report

There’s more where that came from.

The definitive guide to managed offices

The Experience Gap: Why Hospitality is the Only Way to Protect Asset Value in 2026

Which type of office is right for my business?

Thrive, Not Survive: capturing value in London's sub-10k office market

Key findings

What’s inside

Download the report

There’s more where that came from.

The definitive guide to managed offices

The Experience Gap: Why Hospitality is the Only Way to Protect Asset Value in 2026

Which type of office is right for my business?