Banking take-up of office space in the City of London fell 69% over the past year in the wake of the current crisis in the financial industry, according to the latest European Banking Briefing report released by Cushman & Wakefield (C&W). The City's total office take-up figures are almost 40% lower over the year. The City submarket has seen the largest decline in rental levels, with the one-year rental change currently standing at -11.5%, with a 4.2% reduction seen over the last quarter.
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