Not too long ago, signing a 10 or 15-year office lease in London was pretty normal. Landlords liked the stability, and tenants accepted the commitment in exchange for incentives and rent deals. But that world has changed big time.

These days, the average office lease in London is around 5 years. And in many cases, especially for smaller companies or flexible spaces, its even less than that.

A big reason is flexibility. Post-COVID, businesses want to stay agile. Theyre not sure how much space theyll need in three years, let alone ten. Hybrid working, headcount fluctuations, economic uncertainty it all adds up to shorter commitments.

Were also seeing a rise in break clauses. So even if a lease is officially 5 or 7 years, there might be a tenant break at year 3. That gives occupiers more control without locking them in too long.

Landlords are adapting too. A few years ago, long leases were the gold standard. Now, a 3 to 5-year deal with good covenant strength can still be very attractive especially if the space is fitted and ready to go. Theres a growing appetite for plug-and-play options, Cat A+, or managed space that takes the hassle out of the traditional lease model.

Then you’ve got the rise of flex operators. Companies like WeWork, Fora, Huckletree, and TOG are offering space by the month or year. These aren’t traditional leases, but they’ve become a huge part of the London office market, particularly for startups, scale-ups, and even larger businesses that want project space or swing space.

So what does this all mean? In simple terms: leases are shorter, tenants want options, and the market is responding. Thats not to say long leases are dead. They still exist, especially for big HQs or government users. But they’re not the norm anymore.

Whether you’re a landlord, agent, or occupier, it’s important to understand this shift. Flexibility and speed are becoming just as important as square footage and location. If your leasing model hasn’t adapted to that, you’ll struggle to compete.

In short: average office lease lengths in London are down and likely staying that way.