Fundamentals in London’s Southbank East submarket have strengthened materially since mid-2025, following a prolonged period of demand weakness. Leasing momentum has recovered, with BP’s recent preletting of 192,000 square feet at Timber Square - as revealed by CoStar News - boosting sentiment. Vacancy rates have begun to trend downward, and the market has shifted back into positive absorption after two consecutive years of net demand losses. Here are some of the key themes:
Occupier demand surges for Southbank East offices, as construction falls sharply
CoStar digs into the key trends in London’s SE1 after the huge BP prelet
CoStar Analytics
March 25, 2026 | 7:41 AM
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IN THIS ARTICLE
- Properties
- One Southwark Bridge
1 Southwark Bridge Rd, London, LND
- TBC London
Shad Thames, London, LND
- City Gate House
22 Southwark Bridge Rd, London, LND