Regeneration chief, John Nicholls has told the BBC’s Today Programme that the government’s tax on empty offices is having a chaotic impact on regeneration in the most deprived areas of Britain.
Demand for commercial property fell at the highest rate in the past 6 years in the first quarter of this year, with office space being the worst hit sector,
The increase in empty property taxes heralded in April’s budget will lead rents down one of two routes, as asserted in the Wall Street Jounal.