Core Area Vacancy Reduction Strategy

The COVID-19 pandemic has had a negative impact on Core Area vacancy in cities across Canada. London is no exception. In 2021, London’s office vacancy rate was hovering around 20%. The long-term outlook for commercial real estate is particularly uncertain as tenants consider new and emerging business models. Tate Research was retained to collect, document, and analyze various quantitative and qualitative data regarding land and buildings located in the City’s Core Area. Tate Research was also retained to provide expertise on crafting strategy for the reduction in vacancy. This Core Area Land and Building Vacancy Study provided foundational information to inform London’s Core Area Land and Building Vacancy Reduction Strategy.