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Frankfurt and London office markets hit a 10-year low

The amount of office space taken up by banks in London and Frankfurt's financial districts is running at its lowest level for 10 years, according to Jones Lang Lasalle the international property firm.

In its annual review of the European office market, the firm warned that vacancy levels in the City of London could rise from 10% to 15% by the end of this year – the highest level since 1993.

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