London office vacancies hit 30-year high ...News

Russia Today - Economy
London office vacancies hit 30-year high
source : Russia Today ( News ) () 32
Remote and hybrid work are among the factors hurting the sector, according to investment bank Jefferies The share of empty workspace in London’s main business hubs has hit its highest level in three decades, plunging the UK capital into a ‘rental recession’, investment bank Jefferies reported this week. The bank’s analysts estimated that there has been a 20% contraction in the city’s office usage due to a post-pandemic hybrid work model and a shift to greener offices in the suburbs. Flexible, co-working, and serviced offices account for about 9% of London’s space and have moved into some of the vacant facilities,

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