Five years ago, in the depths of the Covid pandemic, a frenzied “race for space” propelled London’s residential property market. City dwellers were falling over themselves to swap one beds in town for detached houses in the ‘burbs with gardens, home studies — and room to breathe. Now London is facing a new property stampede. But this time, remarkably, and against virtually all expert predictions during those work-from-home years of 2020 and 2021, it is office space that is in hottest demand — and worryingly short supply.
Just as London seems incapable of solving its housing crisis, now it faces a potential office crisis as well. And it is going to get worse.
Such is the scale of the shortage that records are being smashed for office rents in the City as occupiers snap up the space that does become available. Last week it emerged that a new high of £160 a square foot was achieved for the 32nd and top floor of the One Leadenhall tower.
According to reports from CoStar News, San Francisco-based cryptocurrency group Ripple Labs has leased 90,000 sq ft of space in the development, next to Leadenhall Market. One analyst estimated the firm will be paying £10 million a year in rent for its swanky new quarters, which come with a large roof terrace.
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Lettings above the £100 per sq ft level — once unheard of — are becoming commonplace
The deal has set a remarkable new high watermark for the Square Mile. But across the City lettings above the £100 per sq ft level — once unheard of — are becoming commonplace, particularly in the most in-demand area around Liverpool Street station, now Britain’s busiest rail terminal.
According to research from Knight Frank, 170 deals with three-figure per square foot rent were completed in central London last year. Prime rents in what property folk call the West End Core rose 15.6 per cent to a record £185 per sq ft, while those rents in the City Core reached £102.50 per sq ft, a 7.9 per cent annual increase.
Knight Frank even goes so far as to predict that the vacancy rate for Grade A office space — the stuff blue chip occupiers actually want — will fall to zero in the City by 2028. Literally no room at the inn. Whether that rather apocalyptic scenario comes to pass remains to be seen. Other analysts are sceptical. But all agree that the imbalance between supply and demand is at its greatest since, at the very least, the boom years before the global financial crisis — and possibly even further back than that.
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Demand for office space in the City is far outstripping supply
Getty Images / Howard Kingsnorth
According to James Nicholson, head of occupier transactions for London at CBRE, “realistically with the current development pipeline you’ve only got supply for about one and a half years of demand”. Typically, the development pipeline has been enough to soak up three years’ worth of demand.
The problem does not have an easy — or quick — fix: conception to completion on a major London office typically takes 10 years. The office crunch means some major tenants have set off on the hunt for new space many years earlier than would be considered normal.
BlackRock, the world’s biggest fund manager, began the search for a new 300,000 sq ft home for its 3,000 London workers last year, a full decade before the lease on its current building, near the Bank of England, expires in 2035.
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That process normally begins two or three years before expiry. BlackRock’s boss Larry Fink said: “I need an office tomorrow, but there is nothing here.” Perhaps most symbolically of all, property bosses at Microsoft have reportedly been shuttling along the Elizabeth line — from Paddington in the west to Canary Wharf in the east — in search of a new London headquarters of between 200,000 and 250,000 sq ft. To date its searches have been in vain.
What has caused the shortage of office space?
So what has caused this desperate shortage of office space — which looks set to get worse before it gets better? The seeds were planted during the pandemic, when a new paradigm assumed workers would never return to offices in the same numbers. The idea of thousands of people commuting into central London on crowded trains to share the same air in crowded offices seemed to belong to a different age. Many employers wrongly assumed they would not need as much space in the post-pandemic world and planned to reduce their office requirements.
But workers have come back. Bosses in financial and professional services — both hugely represented in central London — have put pressure on staff to come into the office. In return, and as a draw, employers have made sure their buildings are fitted with the best facilities, with sustainability and wellness high up the list of priorities.
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40 Leadenhall has a gym, a wellness suite and 17 terraces and green spaces
Outdoor space in the form of terraces has become non-negotiable, even if London’s fickle weather means that they are unused for much of the year. Josh Lamb, of Savills’ central London agency team, points to the development at 40 Leadenhall as perhaps the most “amenity rich” in London, with facilities —such as a gym, a wellness suite and a screening room — that would not disgrace a Mayfair luxury residential development, as well as no fewer than 17 outdoor green spaces and terraces.
At the same time, the cost of construction has rocketed, reducing the pipeline of new schemes to well below long-term norms.
According to Mark Stansfield, senior director of UK Analytics at CoStar, last year was the weakest for new construction in London for a decade and a half, with the amount of space started down 35 per cent on 2024. The strength of demand compared with the limited supply was illustrated by the rapid take-up of the “Bishopsgate sisters”, two towers at 8 and 22. Despite being completed on either side of the pandemic, with naysayers predicting they would be white elephants, they are both effectively fully occupied and achieving stellar rents.
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Similarly, when new schemes have come on the market this year, the space is quickly snapped up. Three large occupiers have already earmarked the £1.2 billion development at 75 London Wall as their first choice for a new HQ, according to property industry site Green Street News: investment manager Jane Street, Australian bank Macquarie and BlackRock.
The “super green” development is claimed to be one of the lowest carbon workplace towers in the UK. Construction started in 2024 and the building is expected to be completed in 2028, making it the only major City office scheme confirmed to come available that year.
At the same time, despite Brexit, London has thrived as a financial and business centre, with an estimated 676,000 workers now based in the City alone. That compares with 542,000 before the pandemic, a rise of 134,000 in seven years. Tech, insurance and legal services have all prospered, increasing the squeeze on space.
The lack of supply in the City has benefited its rival Canary Wharf, which has seen a remarkable renaissance after half a decade in the doldrums. But even here the huge spaces needed for the biggest companies are limited.
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US investment bank JP Morgan, one of its biggest occupiers, has taken matters into its own hands, deciding to build a £3 billion new headquarters at Riverside South that it claims will be the biggest office building in London.
Canary Wharf
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The City of London Corporation, the planning authority for the Square Mile, insists it is doing its bit to respond to the soaring need. “The incredible demand for office space is driving a hive of construction activity and investment,” a Corporation spokesman says. “We’ve just recorded an 84 per cent increase in planning applications decided by our planning officers in January, compared with the same month last year. This is a sign of strength and opportunity, and the City is responding, with 30 major office schemes under construction, equivalent to almost 10 new Gherkins.”
Weather expert Derek Brockway described the winds in part of Wales as storm force 10
22:50, 04 Apr 2026Updated 22:51, 04 Apr 2026
Ferocious winds are battering parts of Wales due to Storm Dave. Areas in the north west of the nation are experiencing the strongest gales.
The Met Office reported wind speeds of 93mph in Capel Curig, Conwy, and 81mph in Aberdaron, Gwynedd at 8pm on Saturday. Capel Curig was listed as having the strongest winds recorded in the UK during Storm Dave.
Shortly afterwards BBC Wales weather presenter Derek Brockway posted on social media: “Cold front has passed through. Gales will slowly ease overnight.”
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Brockway described the wind speed at Aberdaron as storm force 10 but said he expected milder weather on Sunday, writing on X: “Bright and breezy tomorrow. Colder with sunny spells and scattered showers. Winds easing. Dry Monday and Tuesday with sunny spells and turning warmer.”
It comes after amber and yellow weather warnings were issued for parts of north Wales, the north of England, Scotland and Northern Ireland.
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The Met Office forecast for Wales states: “Storm Dave will bring strong winds and coastal gales this evening, particularly around exposed coasts of north and north-west Wales. Heavy and blustery spells of rain to start then the storm will clear in the early hours as winds ease. Minimum temperature 3C.
“Sunny spells and scattered showers on Easter Day with lighter winds. Mostly dry by the afternoon but feeling colder than previous days with a fresh breeze. Maximum temperature 11C.”
Anthony Joshua was ringside for Derek Chisora’s showdown with Deontay Wilder
22:18, 04 Apr 2026Updated 22:31, 04 Apr 2026
Eddie Hearn hasn’t ruled out the possibility of Anthony Joshua fighting Deontay Wilder but dropped a major hint regarding a superfight with Tyson Fury.
The Matchroom supremo revealed that they are focused on finalising a showdown with The Gypsy King. The former world heavyweight champion made his first public appearance as he attended the O2 Arena for Derek Chisora’s final bow against American Deontay Wilder.
Fury and Joshua have been long-standing rivals after competing at the pinnacle of heavyweight boxing for a number of years. However, so far in their careers, they have failed to reach an agreement to stage the all-British showdown but recently, it has appeared that the bout is closer than ever.
Hearn said: “To be honest, we’ve been very focused about making the Tyson Fury fight. AJ did mention to me that, he’s supporting Derek he thinks he’ll win, but if Deontay Wilder wins in style tonight, it opens a big fight with Anthony Joshua.
“We are here as friends and fans but got one eye on the game.”
Joshua made his return to the ring in December after over 12 months away, following his defeat to Daniel Dubois, as he beat Jake Paul in Miami, Florida.
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However, his return remains to be seen after the 36-year-old was involved in a car crash in Nigeria which killed two of his friends. Joshua escaped the incident and was treated in hospital with minor injuries, personal trainer, Latif Ayodele, and strength coach, Sina Ghami, died after their vehicle collided with a stationary lorry near Lagos.
Fury, meanwhile, is edging closer to his return to the spotlight after ending his fifth retirement from boxing when he faces Arslanbek Makhmudov.
The 37-year-old takes on the Russian next weekend in his first comeback fight since the defeat to Oleksandr Usyk in December 2024.
The Gypsy King headlines at the Tottenham Hotspur Stadium on April 11. When announcing his return, he said: “I came back for one reason only: To make boxing great again. Since I stopped boxing a year ago, boxing for me has gone on a downward slope. It’s become quite boring.
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“Boxing is at his maximum potential when Tyson Fury’s actively fighting. I didn’t say that, AI, Chat GPT [did]. So believe it.
“With me, I brought the biggest streaming platform on earth, Netflix. First fight back, fighting at a 60,000-seat stadium. I bring a circus, entertainment, action, cameras, everything to the sport. I was enjoying being retired.
“Made ‘At Home with the Furys’ Season 2, made a documentary, travelled the world with my family, a few private jets, yachts … I was enjoying myself.
“But it comes to a point where you just want to go back to work. My work will always be the fight game, no matter how old I am.”
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In the space of 180 minutes, Arsenal’s dream of a quadruple has been obliterated so thoroughly that it has been reduced to a double. Two matches have cost them a shot at two trophies, and this FA Cup loss by Southampton was every bit as dismal as their Carabao Cup final defeat by Manchester City two weeks ago.
The international break was supposed to soothe Arsenal’s pain after that Wembley defeat but now they will feel even worse, having been deservedly beaten by Championship opposition. Mikel Arteta’s side had plenty of the ball but they rarely showed the same clarity of thought, and indeed the same composure in the penalty box as their supposedly lesser opponents.
There can be no hiding from the reality for Arsenal: this dip in form must be addressed immediately, or there will be nothing to celebrate this season. The Champions League awaits in midweek and there are still no guarantees in the Premier League, despite their lead over City. If they continue to play like this, they will undoubtedly be caught in the league.
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How Southampton delighted in this unexpected victory, with Ross Stewart and Shea Charles both producing classy finishes, either side of a Viktor Gyokeres goal for Arsenal. Southampton were aggressive when they could be, energetic throughout and boisterously supported by a fanbase that rightly believed from the first minute to the last.
Bath turned to a quartet of their England backs to turn the tide as they edged into the Champions Cup quarter-finals with a 31-22 victory over Saracens.
Trailing 10-0 at the interval at the Recreation Ground, the hosts burst into life with tries from Henry Arundell, Joe Cokanasiga, Ben Spencer and Ollie Lawrence as they set up a last-eight appointment at home against Northampton.
Spencer’s 59th-minute finish of an audacious attack that began on their own try-line looked to be pivotal but determined Saracens refused to throw in the towel and were only truly beaten when Arundell ran in his second in the 80th minute.
Henry Arundell shone for Bath (David Davies/PA)
Bath’s scrum needed rescuing after a humbling first half with the introduction of prop Thomas du Toit making the difference and the South Africa tighthead was named man of the match.
Unlike their visit to the Recreation Ground a fortnight ago when they were overwhelmed 62-15, it was clear Saracens meant business from the start as they halted an early Bath onslaught including holding up a forward drive over the line.
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Having proved their mettle in defence, they surged ahead in the 14th minute when Charlie Bracken deceived Cokanasiga with a dummy from the base of a maul and raced over.
It was poor defending from Cokanasiga, but at the other end Saracens continued to show far greater determination as the outstanding Tom Willis bulldozed a way through heavy traffic to rescue a dangerous position.
Bath’s scrum was beginning to buckle and they were also suffering at the breakdown, but the visitors were their own worst enemies at times with Fergus Burke failing to find touch with a penalty.
Saracens dominated the scrum in the first half (David Davies/PA)
Rhys Carre rampaged into space and Noah Caluori almost crossed in the left corner before Guy Pepper was shown a yellow card for cynically heading the ball away on the floor.
So many elements of Saracens’ game were firing but the points they deserved proved elusive with a Farrell penalty their only other score in a half they had controlled.
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To punish their wastefulness, Arundell sprinted across after being released by Charlie Ewels early in the second half and then Cokanasiga scooped up a loose ball to weave over after Lawrence had carried into space.
The tries sandwiched a dramatic reversal in the scrum with Beno Obano sin-binned for a cumulation of penalties before Du Toit forced a penalty, providing Cokanasiga with the platform to score.
Bath led for the first time and then produced the highlight of the afternoon by stopping Saracens from scoring by dislodging the ball from Andy Onyeama-Christie as he ran at the line before striking with a move that began from their own whitewash.
Ben Spencer scores a try for Bath (David Davies/PA)
Cokanasiga escaped the 22, found Alfie Barbeary who waited for Spencer and the England scrum-half had gas to finish from long range.
Maro Itoje and then Ivan van Zyl burst through the breakdown and Saracens were far from done as a period of pressure ended with Max Malins touching down in the left corner.
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But Harry Wilson was the next to see yellow for a dangerous tackle on Miles Reid and soon after Lawrence crashed over from close range. Caluori replied for Saracens, but Bath had the final say at the death through Arundell.
Elsewhere, Toulouse swept into the last eight with a resounding 59-26 victory over Bristol while Glasgow Warriors clinched a close affair 25-21 against the Bulls.
Harlequins were beaten 17-26 by Sale at home with Luke Cowan Dickie twice crossing the line and fly-half George Ford leading from the front as Sharks breezed into the next round.
Cowan Dickie said: “We saw more of a Sale Sharks performance today, we weathered some of their lightning bolt moments and came away with a win.”
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However, the closest match-up came with Toulon versus the Stormers as the French side moved into the next round thanks to a single-point victory with a 28-27 win at the Stade Mayol.
The ITV talent show sees people from the UK and across the world audition to show off their unique talents in an attempt to impress the judges and win the £250,000 prize money.
Judges Simon Cowell, Amanda Holden and Alesha Dixon returned to the panel for the news series, and guest judge KSI has become a permanent judge on the show following the departure of Bruno Tonioli.
While Simon Cowell featured at the start of the episode, viewers saw Stacey Solomon temporarily replace him for some of the auditions this evening.
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Remember the BGT winners from 2018 to 2025
Students from Braunstone Community Primary School and their headmaster combined comedy with dancing and singing, which impressed Solomon so much she said she believed they deserved the golden buzzer.
The children meet each week at 2pm on Fridays with their headmaster, who gets them all dancing and singing together, something Alesha Dixon said “all schools should roll out because kids need this life force of music”.
What is a golden buzzer on BGT?
The golden buzzer is pressed when a judge or the hosts, Ant and Dec, want to send an act straight through to the live shows to award them for their talents.
It’s only given to a select few acts per series and it means golden buzzer acts can skip some of the other auditions.
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What does the winner of BGT 2026 get?
There have been 18 winners of BGT since its first series in 2007, with magician Harry Moulding winning last year.
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The winner of BGT will take home a prize of £250,000 and will also be given the chance to perform at the Royal Variety Performance in front of the royal family.
In the ITV show’s first three years, winners won a prize of £100,000, while the biggest winners were Ashleigh and Pudsey with a prize pot of £500,000 in 2012.
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Who is your favourite winner of Britain’s Got Talent from previous years? Let us know in the comments.
Rohl was able to enjoy his side scoring four goals for the second game in a row at Ibrox, with some influential performances in attack.
As the German said after the match, if Rangers win six games they win the league.
The question is whether the performances suggest they are capable of doing that given the opposition only gets tougher. Rohl is “convinced” they can.
The win against United built on improved attacking performances, something that has been thrown at this Rangers side. Are they creative enough?
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They are, though, the top-scorers in the league and looking much more of a threat.
Thelo Aasgaard has been a much-maligned figure in his maiden season at Ibrox but was involved in three of the four goals, including scoring the third.
Djeidi Gassama, whose form has dipped after eye-catching early displays, was impactful off the bench in driving Rangers forward, and set up Aasgaard.
Striker Ryan Naderi grabbed his first Premiership goal too, before being withdrawn with an injury at half-time for Youssef Chermiti.
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Rangers’ number nine ended up with four shots and no goals in a busy display but is still looking for consistency, while Andreas Skov Olsen underwhelmed again before being withdrawn at the break.
Nonetheless, there is plenty to build on.
“We have to be on the front foot and if we win six games then we will have something at the end of the season,” Rohl added.
“I am really convinced that my players have the potential to do this. But there is still a long way to go and it’s no secret that next week away to Falkirk is a very, very difficult game.
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“We will take things step by step, but we had nine ‘finals’ and we have won the first three of them.
“That gives us a good feeling, but nothing more. We have to be humble and ready for the next fight.”
Also returning to camp with hosts Anthony McPartlin and Declan Donnelly are former football manager Harry Redknapp, singer Sinitta, comedian Seann Walsh, retired boxer David Haye, DJ and Red Dwarf actor Craig Charles, ex-footballer Jimmy Bullard, Coronation Street star Beverley Callard and Waterloo Road actor Adam Thomas.
The burglary took place at a home in Pontefract Road, Snaith, near Goole, at 9.23pm on Thursday (April 2).
Humberside Police said a man dressed in dark clothing had walked around the property and smashed a glass side door.
After entering the home, the man had “untidily” searched the house, taking jewellery, including watches, but not before he was confronted by a relative of the homeowner, police said.
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A force spokesperson said: “The relative fought the intruder off, causing them to drop some of the stolen items as well as their gloves.
“This intruder then scaled a fence and fled, possibly in a white BMW.
“If you have any CCTV footage (including video doorbell), saw anyone acting suspiciously in the area around this time or have any information about the offenders please contact the police on the non-emergency number 101 quoting occurrence ref: 26*44350.
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“Alternatively you could call Crimestoppers anonymously on 0800 555 111.
“You don’t have to leave your name and you may even receive a reward.
“You can also provide information anonymously on the Crimestoppers website.”
Publicly, the president has played down this entire incident and suggested it won’t affect negotiations with Tehran to end the war that began with US and Israeli strikes on 28 February. But privately, this is likely to be of serious concern – particularly as Iran’s Islamic Revolutionary Guard Corps is said to have launched its own search for the missing American, reportedly using troops and locals, and offering them a reward of around $66,000 (£50,000) to capture him alive.
Good evening and welcome to our next instalment of the FA Cup quarter-finals as Chelsea host Port Vale at Stamford Bridge. It’s the club sixth in the Premier League versus the side rooted to the bottom of the third tier.
As we’ve just returned from an international break, you would assume it was a quiet week for Chelsea? Well, it’s been quite the opposite.
Chelsea manager Liam Rosenior confirmed that Enzo Fernandez has been given a two-game ban because of his controversial comments regarding his future, meaning he will miss this match and next week’s league meeting with Manchester City at Stamford Bridge.
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Following the demoralising 8-2 aggregate defeat to Paris Saint-Germain in the Champions League, vice-captain Fernandez plunged his Chelsea future into doubt, telling ESPN Argentina he didn’t know if he would stay at the club. In the international break, he fuelled Real Madrid links by saying: “I really like Madrid – it’s similar to Buenos Aires.”
Marc Cucurella was also vocal in the media, criticising Chelsea’s ownership and questioning the club’s project. The 27-year-old disagreed with Enzo Maresca’s sacking in January, feeling it created “instability” and said that only signing young players will “complicate” chances of winning major trophies. Unlike Fernandez, Cucurella escaped any noteworthy punishment and is available for selection this evening.
Alongside this drama and their Champions League exit, Chelsea have also suffered back-to-back Premier League losses without scoring against Newcastle United and Everton.
For Port Vale, things are looking even bleaker from a league standpoint. They’re bottom of League One, 15 points adrift of safety, although they do have two games in hand over 20th-place Wigan Athletic.
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Nevertheless, the FA Cup has been a glorious and welcome avenue of escapism for Port Vale, who are plotting a giant-killing. Jon Brady’s side beat Sunderland in the previous round, and with all eyes on Chelsea, Port Vale could rip up the script and pile even more pressure on their top-flight opponents.
Kick-off is at 5:15 BST, with line-ups on the way shortly.
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