Central London office availability hit its highest point in more than 17 years in July, topping out at 26.6m sq ft at the end of the month, according to research.
CBRE data showed supply rising 2% month-on-month, hitting its highest point since January 2004.
The figure was dominated by tenant released space, which made up 19.8m sq ft of the space.
The second-hand market has declined slightly from its peak in May of 20.1m sq ft.
However, it remains well above its 10-year average of 9.5m sq ft, as occupiers remain unsure about exactly how much space they will need as they return to the office.
The availability of new early marketed supply – prelets that will be ready to occupy within 12 months – increased 8% month-on-month. Meanwhile, newly completed supply declined 1%.
Both remained above their respective long-term trend levels, although there were fewer than 10 units with more than 100,000 sq ft of new, ready to occupy space available across the central London market.
The vacancy rate increased slightly to 9.4%, relative to 9.3% at the end of June.
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