Offices in the City vacancy rates over the past 18 months have been the highest since the Lehman Brothers went bust, but the last 2 quarters have seen more office take-ups in the City than the West End. As a result the vacancy rates have dropped below 9%. Over the last couple of years, acquisition agents dream of large City requirements, in this strong tenant market tenants were able to dictate more flexible lease terms, better rents and improved rent frees.