Desperate times call for desperate measures

Boris Johnson has made foreign businesses a dramatic offer at the annual Mipim conference in Cannes, promising up to a year occupying London office space rent-free.

The London mayor has also offered a dedicated adviser to help investors establish an operation in the capital. Think London will introduce potential clients to Avanta which will fund free rent to a value of £150,000 in the hope the clients will remain after the offer period expires.

The projest, called "Touchdown London", comes at a tough time for the capital, with the prospect of large volumes of office space lying vacant as firms continue to downsize.