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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