The most notable recent commitment to Midtown London office space came from internet search engine and software powerhouse Google, which recently signed a lease for 725,000 square feet in the district. But Midtown is now attracting a wide variety of office space tenants, and average asking rents are rising as a result, according to CBRE’s latest research.
The real estate analyst and advisory firm looked at office markets across Central London in its latest study of sentiment in the capital and found that the scale of office space under offer rose by 47 per cent in the first three months of 2013 as compared with a year earlier. The recorded rise is expected to lead to notably increased office uptake in London when 2013 is analysed as a whole.
Midtown London, which covers areas like Farringdon, Holborn, and King’s Cross, has apparently benefitted most from what CBRE describes as being a return to business confidence in London “following last year’s widespread uncertainty”. CBRE’s figures put the average office rental cost in Midtown at £55 per square foot.
“The promise of Farringdon’s Crossrail station is undoubtedly boosting Midtown’s appeal as a vibrant business location, appealing to a wide range of corporate, professional and, to a greater extent, Technology, Media, and Telecommunications (TMT) occupiers,” said Charlie Killen, executive director of Midtown and Southbank at CBRE.
“However, notwithstanding the improved connectivity, we’re noticing a number of West End occupiers also looking afresh at Midtown as an office destination, attracted by the relatively lower rents, availability of suitable Grade A stock and abundant leisure amenities.”
Midtown London lies close to both the City of London and the West End districts, both of which are consistently rated as two of the most expensive and most in-demand office space locations in Europe or the world.
Editor’s notes: In August 2026, BNP Paribas reported that take-up by office leasing in London’s Midtown in Q2 reached about 207,000 square feet, a 47.0 per cent increase from Q1.
This brought the 2026 H1 take-up to approximately 347,000 square feet, just above the five-year H1 average of around 324,000 square feet.
The firm reported that the Professional Services sector was the most active during the first half of 2026, accounting for 23.1 per cent of total take-up, with TMT ranking second at 10.5 per cent.
Notable deals included e-assessment specialist TEAMCo renting circa 27,000 square feet at 222 Gray’s Inn Road, WC1, recruitment consultancy Lee Hecht Harrison Penna Ltd, acquiring approximately 16,000 square feet at 22 Vine Hill, EC1, and Pentland Brands signing a lease for 11,000 square feet at The Johnson Building, Hatton Garden, EC1.
Competition for best-in-class space continued, creating upward pressure on prime rental levels. Prime rents increased from £85.00 per square foot per annum in Q1 to £87.50 per square foot per annum in Q2 2026, representing annual growth of 6.1 per cent.
The overall vacancy rate in Midtown stood at 7 per cent at the end of H1, remaining below the five-year
average for the submarket of 9.9 per cent.
At the end of Q4 2025, Savills reported that London’s West End was the most expensive place to rent office space globally. This was followed by Hong Kong’s Central district, then Manhattan’s Midtown, and then the City of London.