Heart of London Business Alliance has published its quarterly Real Estate Insights Report for April – June 2024 which provides an in-depth look at the performance of real estate in the Heart of London area.  

Each quarter, the report uses local data, intelligence and media monitoring to analyse consumer, sector and industry performance. It supports this with insights from leading experts.

This report, combined with our monthly and annual Area Performance Reports makes for a unique and valuable data set and information source for our members, stakeholders, and investors, as well as a critical tool in HOLBA’s commitment to protect and promote the commercial and cultural wellbeing of London’s West End.

Click here to read the report. 

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A few key takeaways from the report include: 

• The first quarter of the financial year was a quiet period for deals and transactions whilst the market waited for the outcome of July’s General Election.
• The HOL area continues to be in high demand for office space with just 38 properties having available floorspace. With an average transaction size of 2,178 sq ft during this quarter this reflects the current lack of larger floorplate stock in the area.
• The hotel sector has also seen a decline during this period in occupancy, ADR and RevPAR growth but demand for hotel accommodation is expected to grow throughout 2024, largely owing to the anticipated halo effect from high profile events during the summer months
• Footfall remained consistently high throughout the quarter with a slight dip in June but overall the number of visits saw a significant rise of 7.53% signalling the traditional influx of visitors to the area during the spring.
• Consumer spending in the HOL area increased by 2.42% compared to the previous quarter.