Biggest Increase in UK Office Vacancies Since 2009

Modern office buildings are all the rage in central London, with a swath of companies including UBS Group AG moving into new premises in the last 12 months. The problem for landlords is finding someone to replace them.

A growing number of unoccupied older properties caused the overall office vacancy rate to climb to 5.8 percent at the end of the first quarter from 3.9 percent a year earlier, according to data compiled by Deloitte LLP. That was the biggest increase since 2009.

“The demand for new space is still there; the demand for second-hand space isn’t necessarily as hot,” said Shaun Dawson, a research manager at the firm.

Bloomberg

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.