2024 saw continued strong performance across our London estate, with office occupancy consistently at 99% across Mayfair and Belgravia.

Ongoing investment in our assets and customer products was a key driver behind this success. Meeting a rise in demand for premium workspaces backed by a distinctive personal service and amenities, we are transforming approximately 20% of our existing portfolio to flexible offices.

By creating distinctive workplaces in London’s best-connected locations, we have captured a growing customer base and are experiencing high renewal and satisfaction rates as well as rental growth.

We are currently halfway through converting 300,000sq ft of our existing office portfolio into flexible or fitted space, and will continue to establish new sites and expand existing spaces over the course of 2025.