London Running Short of Offices Is Great News for the City

The list of reasons to be pessimistic about the UK includes its ongoing political melodrama, a stagnant economy and a dearth of new stock-exchange listings. But there’s one bright spot: Demand for office space in London’s financial districts is absolutely booming. Rumors of the post-Brexit demise of the City seem to have been greatly exaggerated.

According to Bloomberg Intelligence's real estate analysts, there’s barely 2% of so-called prime office space available in the most sought-after areas of central London, and less than 10% free across the board. With Microsoft Corp. searching for a home anywhere along the new cross-London Elizabeth Line and Jane Street Group LLC among other premier US companies corporations looking for premises, it’s set to become a bit of a scramble.