Risk of Excess Office Supply and Higher Vacancy Rates in London, UK
First written in FY2023-Q3. 4 of 9 entries say "Mitigated", first in FY2025. Latest entry: 2026-08-04.
2 other companies' latest entry also says "Mitigated".
- FY2026-H1MitigatedAnnual report
「In the London office leasing market, demand for high-grade properties in good locations remained solid, and rents remained stable. In addition, the market-wide vacancy rate declined, among other developments, and the supply-demand balance improved compared with the same period of the previous year.」
In London, in addition to demand for high-grade properties and stable rents, the market-wide vacancy rate declined, improving the supply-demand balance year on year. - FY2025MitigatedAnnual report
「In the London office leasing market, demand for high-grade buildings in good locations remained solid, with low vacancy rates and stable rents, and conditions improved compared with the previous period.」
It states that demand, rents and vacancy rates for high-grade properties in the London market improved compared with the previous period. - FY2025-H1High-grade properties remain solid, but vacancy rates remain high across the marketAnnual report
「In the London office leasing market, high-grade buildings in good locations with well-equipped facilities and strong environmental performance continued to attract strong demand, with low vacancy rates and stable rents, but vacancy rates for other buildings remained high, leaving the market-wide vacancy rate elevated.」
High-grade buildings saw strong demand, low vacancy rates and stable rents, while vacancy rates remained high for other buildings, keeping the market-wide vacancy rate elevated. - FY2024-Q3Demand declining due to remote work, with vacancy rates remaining highAnnual report
「In the London office leasing market, demand for high-quality buildings has remained strong as companies encourage a return to the office, but vacancy rates remained high as office demand declined due to the spread of remote work and other factors.」
It states that demand for high-quality buildings remains strong, while declining demand due to remote work and other factors and high vacancy rates continue. - FY2024-Q2RestatedAnnual report
「In the London office leasing market, demand has been recovering, particularly for high-quality buildings, as companies encourage a return to the office, but vacancy rates rose as new supply exceeded demand.」
It reaffirms that demand, particularly for high-quality buildings, has been recovering, while vacancy rates have risen due to excess supply. - FY2024-Q1Demand recovering, but vacancy rates rising due to excess supplyAnnual report
「In the London office leasing market, demand has been recovering, particularly for high-quality buildings, as companies encourage a return to the office, but vacancy rates rose as new supply exceeded demand.」
It states that office demand, particularly for high-quality buildings, has been recovering, while vacancy rates have risen because new supply exceeded demand. - FY2023-Q3First statedAnnual report
「In the London office leasing market, office demand has been recovering following the lifting of various restrictions introduced to control infectious diseases, but vacancy rates rose as new supply exceeded demand.」
It explicitly identifies, for the first time, rising vacancy rates caused by new supply exceeding demand despite recovering office demand in London as a region-specific real estate risk distinct from domestic office market conditions.