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 Market Analyst - UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a Market Analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
Craig Erlam