London office market in 'rental recession'

‘Rental recession’: London office vacancies hit 30-year high

London's office market is in a "rental recession," Jeffries said, reporting that vacancies in the capital's business hubs had hit a 30-year high.

London office market in 'rental recession'

London's embattled office market is in "rental recession" as empty workspace across the UK capital's West End, City and Canary Wharf business hubs hits a 30-year high, analysts at Jefferies said, pressuring shares of several top landlords.

LONDON's Office Market in Rental Recession as Empty Spaces Reach 30-Year High

The office market in London is facing a “rental recession” as the volume of vacant space across the city’s major business districts has reached its highest level in 30 years, according to analysts at Jefferies. The office usage in London is expected to contract by 20% due to the post-pandemic shift towards hybrid working and the growing preference for environmentally friendly buildings in suburban areas. The analysts at Jefferies have downgraded…