Rob looks into the topic of commercial property and discuss an interesting article about London's office market, highlighting that London's office space is currently experiencing its highest vacancy rates in 30 years, with a 20% contraction in office usage due to post-pandemic hybrid working and a preference for greener buildings in the suburbs.
Rob discusses the fact that this trend presents significant opportunities for investors and developers, as commercial property giants like land securities are downgraded by analysts.
"London's office market is in a rent recession as volumes of empty space across the West End, City and Canary Wharf hit a 30-year high."
"People are starting to figure out that actually working from home isn't the worst thing in the world to do, depending on what job you're doing."
"They have, I believe they've got trillions, certainly billions, possibly trillions of real estate that needs to be refinanced at some point."
"The mainstream media are now starting to pick up a lot more on the fact that commercial property space is becoming emptier in and around London."
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ABOUT THE HOST
Rob Smallbone is the author of the Amazon best-seller Buy-To-Let: How To Get Started as well as 101 Top Property Tips and Property FAQ’s.
Property FAQs = https://amzn.to/3MWfcL4
Buy To Let: How To Get Started = https://amzn.to/3genjle
101 Top Property Tips = https://amzn.to/2NxuAQL
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