Meadow Partners sees London office vacancies stabilizing near 5%, with development pipeline below 1% of stock
XLRE•Meadow Partners sees central London office vacancies stabilizing near 5%, with the development pipeline expected to remain below 1% of existing stock over the next three to four years.
1. Vacancies and supply
Meadow Partners said central London office vacancy has stabilized near 5%, while the forward construction pipeline is expected to be below 1% of existing stock over the next three to four years, pressured by interest rates and cost inflation. The firm expects prime rents to accelerate, with levels previously forecast four to five years out now expected within 12 to 24 months.
