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UK office, shop and warehouse construction plunges to 11-year low as costs soar

Budget uncertainty hits investment but take-up of new space rises amid firms’ return-to-office mandatesBusiness live – latest updatesConstruction of offices, shops and warehouses in the UK has fallen to the lowest level in more than a decade amid rising build costs and uncertainty.All commercial sectors have been hit, with construction across office, retail and industrial sectors down by 21% to 5.85m sq metres (63m sq ft) in the third quarter compared with a year earlier, according to the latest data from CoStar. Continue reading...

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