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LONDON-London should expect its office market to slow further, according to the developers of Canary Wharf. The company has issued a trading statement which is more downbeat than previously.

‘In the short term, the cyclical slowdown of the economy and the financial services sector, which has been exacerbated by the recent tragic events, will inevitably have an effect on the London office market in general,’ it said. But the company went on to underline its own secure position: there is not a single void among the 6 million sf so far completed at the Docklands office complex.

And over the next three years another 6.97 million sf will be completed, of which 5.73 million sf is pre-let, 0.67 million sf is subject to options and negotiations are currently under way on 0.2 million sf. ‘Whilst remaining positive about the prospects,’ the statement concluded, ‘the directors recognise the current economic climate and will concentrate on completing the letting of vacant space and achieving further pre-lets.

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