In the last two months office availability has risen by a third while demand for central London office space in is half what it was at the peak in July 2001. Total take-up in November was just 600,000 sf.
John Forrester, head of Central London Offices at DTZ said: 'The most notable aspect of the substantial increase in availability in recent months is the shift in the balance of office space released by tenants against that by landlords. 70% of available space now comes from tenants reducing the amount of office accommodation they occupy as a result of the global economic slowdown. This trend is likely to continue.'
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