Research from BPS London shows just 7.5% of available office rental stock in the capital can be classed as premium workspace.
The findings come as the UK’s commercial property remodelling sector enters a period of decline.
After surging to £6.86bn in 2022 following the lifting of Covid restrictions, growth slowed sharply in 2023 and 2024 before contracting by -2.1% in 2025 to £7.21bn.
The sector is forecast to shrink further in 2026, falling by -2.7% to £7.01bn.
OFFICE LISTING
BPS London warns this downturn is arriving at the wrong time, as occupier expectations continue to evolve in a post-pandemic market.
Analysis of current London office listings shows that the majority of available stock sits below premium price points, with 46.6% priced between £31 and £60 per sq ft and a further 27.4% below £30 per sq ft. Just 7.5% of offices command rents of £91+ per sq ft.
The research also highlights a lack of basic features across much of London’s office stock. While security systems appear in 60% of listings, only 35% offer 24-hour access and just 21% provide controlled access.
On-site amenities remain scarce, with restaurants present in 18% of listings and roof terraces in 17%, while gyms and concierge services are available in just 5%.
HIGHER EXPECTATIONS
Mahir Vachani, Director at BPS London, says: “The workplace has changed dramatically since Covid, and the capital’s workforce now has higher expectations than ever before when it comes to the quality of their working environment.
“Today, flexible working is the norm and that means businesses can’t expect employees to commit to travelling into the office if the space itself feels tired, uninspiring, and poorly equipped.
“Yet our analysis shows that just a small proportion of London’s current office rentals can be considered premium, while many buildings are still falling short on fundamentals such as security, controlled access, and 24-hour availability.”
INVESTMENT NEEDED
He adds: “At the same time, the UK commercial property remodelling sector has started to contract, with a decline recorded in 2025 and a further reduction forecast for 2026.
“This is happening at a point where investment is needed most, not only to modernise London’s office stock, but to create fit-for-purpose workspaces that support productivity, wellbeing, and the expectations of the modern-day worker.”
