London’s office market has fresh developments to report, with billions of pounds changing hands and construction beginning on a major new workspace in Bloomsbury.
Central London recorded £2.4 billion of office investment in the third quarter of 2026, according to JLL. Meanwhile, Bovis has started construction at St Giles Quarter, where One Museum Street will bring approximately 170,000 sq ft of new offices to the neighbourhood around the British Museum. Together, these developments offer a view of both current investment activity and the next generation of London workspace.
London Office Investment Records Its Strongest Quarter of 2026
JLL’s October market update puts Central London office investment at £2.4 billion between July and September. This was the strongest quarter of the year so far and represented a 65% increase compared with Q3 2025.
The West End accounted for approximately £1.2 billion, followed by East London at £845 million and the City at £391 million. Despite the annual improvement, the overall quarterly total remained 4% below the ten-year Q3 average, suggesting a market gaining activity while still having room to recover.
For businesses looking for office space, investment transactions provide useful background. However, the purchase of an office building does not automatically create additional space to rent. Construction projects provide a separate indication of how the capital’s office offering could develop over the coming years.
One Museum Street Moves into Construction
Bovis confirmed on 23 October that construction had begun at St Giles Quarter following its work on the project’s pre-construction phase.
The Bloomsbury development includes One Museum Street, a 19-storey office building with landscaped terraces. The building is targeting BREEAM Outstanding, with completion of the wider scheme expected in June 2029.
Alongside the offices, the plans include 44 homes, including 19 affordable homes, and 16 shops, restaurants and cafés. New and restored buildings will sit alongside improvements to the surrounding public spaces.
The appeal of a workplace extends beyond its front door. Places to meet clients, take a lunch break or spend time with colleagues all contribute to the working day. Bringing these uses together makes the project relevant to businesses considering what they want from a future London base.
Businesses Continue to Commit to London Workspace
Investment and construction are only part of the picture. Leasing activity also provides evidence of businesses committing to offices.
CBRE reports that Central London office take-up reached 3.2 million sq ft in Q3 2026, up 19% on the previous quarter and 12% above the ten-year quarterly average. Across the first nine months of the year, take-up totalled 8.1 million sq ft, broadly matching the same period in 2025.
These figures support a measured, positive view: companies continue to make substantial workplace commitments, while projects such as One Museum Street will add to the options available in future years.
What This Means for Your Next Office Move
For a business planning to relocate, the most useful approach is to connect market news with practical requirements.
A future development may suit a longer-term headquarters strategy. A company moving sooner can focus its search on existing serviced offices, managed space or conventional leased premises, depending on its budget and preferred level of commitment.
When comparing options, consider:
- Location: How well does the office work for staff journeys and client visits?
- Layout: Is there enough room for focused work, meetings and collaboration?
- Total cost: What is included, and which expenses sit outside the quoted price?
- Flexibility: Can the space and agreement accommodate changes in team size?
- Timing: Does the actual move-in date fit your business plans?
London’s latest investment activity and new construction provide encouraging developments to follow. For your business, the opportunity starts with finding an office that fits how your team works today and where it wants to go next.
Looking for office space in London?
Share your preferred locations, team size, budget and moving date to find suitable options for your next move.
