Plan 4–8 months end-to-end: 4 weeks scoping, 6–10 weeks shortlist and tours, 6–10 weeks LOI and lease negotiation, then 12–20 weeks fit-out before first occupancy.
Plan 4–8 months end-to-end: 4 weeks scoping, 6–10 weeks shortlist and tours, 6–10 weeks LOI and lease negotiation, then 12–20 weeks fit-out">fit-out before first occupancy.
1. Define occupancy economics in a spreadsheet first. 2. Lock the headcount and work-style assumptions. 3. Use the Office Space Calculator to size the requirement. 4. Identify the corporate entity, signatories, and credit support strategy.
5. Engage a tenant-rep broker who has worked London for 5+ years. 6. Tour 8–12 buildings; shortlist 3–5. 7. Demand a side-by-side that compares all candidates on identical assumptions.
8. Issue LOI with the full economic package — base rent, free rent, TI, escalations, options. 9. Negotiate to lease in 6–10 weeks. 10. Coordinate with local counsel on regional-specific provisions. London leases are predominantly Full Repairing and Insuring (FRI). Tenant pays service charge and is responsible for dilapidations on lease end. Rent reviews to open-market rent every 5 years are standard. Rent-free periods of 18-30 months on a 10-year term are typical, with 'capped' rent-free for break-clause certainty. Personal guarantees are uncommon for institutional tenants; rent deposits are common for younger covenants.
11. Run procurement in parallel with lease negotiation where possible. 12. Tie rent commencement to construction completion on heavy fit-outs. 13. Plan a 4-week ramp-up before peak occupancy.
| city | London |
|---|---|
| country | United Kingdom |
| region | EMEA |
| classARentLocal | 95 GBP/sqft/yr |
| classARentUsd | $121/sqft/yr |
| vacancy | 8.6% |
| typicalLeaseYears | 10 |
| typicalRentFreeMonths | 24 |
| submarkets | 7 |
| primeYieldPct | 4.5% |
Reviewed by Samuel Okafor — EMEA contributing editor. Last updated 2026-04-15. See our methodology and editorial standards.