Thousands of much-needed homes could be created in London by converting old and unwanted offices.
According to a report by CBRE, an estimated 16m sq ft of older, empty blocks in the capital could be repurposed as almost 28,000 homes.
Most of the potential is in the outer London boroughs, the agent said, given that is where offices are most at risk of becoming stranded and where planning permission for repurposing is less difficult to obtain.
CBRE estimates that 90,000 fewer homes have been built in the capital over the past decade than were needed to keep up with demand.
At the same time, the proportion of vacant office space in the capital has almost doubled since the onset of the pandemic to around 8.5%.
