[ssiguy]

We have to remember that "office space" is not some kind of monolithic concept. There maybe a real shortage of Class A but an oversupply of Class C. That said, I don't think we will see any new office towers in the Core for a very long time. Any hope of that has been brought to a complete stop by COVID. Outside of our biggest centres, the age of huge office developments is over.

What I think what you will see, especially in mid-size cities like London, is more small leasing spaces such as the bases of condo developments downtown, the renovation of older commercial buildings and housing into small offices, and the upgrades of lower class buildings into higher class ones.