博鱼体育集团

London鈥檚 office market stands at a crossroad. On one hand, prime space is in critically short supply, and on the other, the volume of secondary stock is growing, but faces becoming obsolete under tightening regulations. Below, we explore some of the key market trends highlighted in our , cost benchmarking, and considerations for occupiers planning a fit out.

The development pipeline reflects the understandable caution felt within the market from the volatile demand post -pandemic. Of the 36 million sq ft earmarked for delivery, only 12% is expected to come to market - a clear sign that developers are reluctant to commit without pre-lets or secure funding in a still-uncertain economic climate.

Occupiers, meanwhile, are regaining control. Nearly 80% of businesses now vacate their space at lease expiry, an increase of 52% on the long-term average. Tenants don鈥檛 just want space; they need purpose-built environments that align with their values and evolving needs.

The shape of the sectors

Financial and professional services are driving demand, with IT and creative industries following closely behind. But quality is key: two-thirds of new leasing activity in London is now focused on premium or comprehensively refurbished space - a jump from the pre-pandemic levels of around 45%.

These trends point to a market shaped by smarter space, shorter leases, and sustainability-first design. Features such as wellness suites, rooftop terraces, and high-spec communal areas are no longer luxuries; they鈥檙e quickly becoming baseline expectations.

How much is it likely to cost and how long will it take?

Capital expenditure varies significantly across sectors. Financial and legal occupiers continue to lead on overall spend per project, reflecting high design specifications and performance expectations. Meanwhile, tech companies - many of which have matured from start-ups into established enterprises - are steadily increasing their investment in workspace quality.

Public sector clients remain the most cost-conscious, typically operating under tighter budget constraints and often with fixed procurement routes.

Fit Out Cost Benchmarking

Indicative Programmes

Key considerations when planning a fit out

Fitting out a new office is a strategic opportunity; key elements occupiers should consider include:

• Procurement strategy 鈥� Early decision-making on how to engage contractors can streamline timelines and mitigate risk.
• Design scope 鈥� A detailed brief considering layout, amenity needs, and structural work is critical.
• Sustainability and ESG 鈥� Increasingly, occupiers are looking to achieve certifications such as WELL, BREEAM, Fitwel, and NABERS. These accreditations tell a story - not just about the space, but about a company鈥檚 values.

But sustainability goes beyond accreditation: occupiers are measuring the environmental impact of both the build and the occupation, evaluating embodied carbon, inclusivity, and staff wellbeing as part of the space鈥檚 long-term value and performance.

Organisations such as the and the continue to push the bar higher. The best fit outs in 2025 will be those that align closely with their principles - designing for today but future-proofing for tomorrow.

How we can help

At 博鱼体育集团 Frank, we work with clients across all sectors to deliver fit outs that are not just functional, but forward-thinking - blending technical performance, ESG goals, and commercial value.

Paul Prior, Partner, Cost Consultancy, explains:

鈥淚n this shifting market, understanding where to invest and how to prioritise sustainability is more important than ever. The right approach to procurement, planning and cost management can unlock real value - not just in construction, but across the life of the lease.鈥�

Richard Proctor, Head of UK Occupier Strategy & Solutions (UK OSS) concludes:

鈥淚n 2025, success won鈥檛 be about square footage alone. It will come down to how flexibly, sustainably, and strategically a space performs. From early-stage feasibility to delivery oversight, our team supports occupiers every step of the way.鈥�

Want to find out more or discuss your requirements?

Download our or contact our teams 鈥� Cost Consultancy or Occupier Strategy & Solutions today for sector-specific advice.