London office vacancy rates are forecast to hit their highest level since the financial crisis next year as companies shrink their headquarters in the wake of the coronavirus pandemic.
In the City, vacancies are forecast to rise from 6.5% this year to 7.2% next year, before peaking at 8% in 2022, according to the estate agency Savills. That compares with a peak of 10.4% during the financial crisis.
Several big companies are planning to offload space. After tripling the size of its London headquarters last year, challenger bank Monzo is now trying to sub-let a floor in its offices near Liverpool Street station. HSBC is trying to sub-let a floor in the Blue Fin building in Southwark and Nationwide is doing the same at Threadneedle
