Subprime U.S Affects London Office Space

Property firm CB Richard Ellis (CBRE) said it expected 2.5 million square feet of new office space per year to be built in central London in 2009 through 2011, instead of a previously forecast 4.5 million square feet.

This comes about due to the current situation in the U.S subprime market at the moment.

But that could help to extend London’s commercial property cycle by reducing the risk of too many new offices going up in the crane-dotted capital.

Read more at Reuters

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