City office building set to hit 30-year low

Development of offices in London will fall to the lowest level for more than 30 years as City skyscrapers and West End buildings remain mothballed in the face of difficult conditions.

The slump in development activity will drive a recovery in prime rents across London, according to the latest cranes survey conducted by Drivers Jonas, the property consultancy, as the best-quality space is taken up rapidly over the next 12 months.