Worktech Sydney - EXPLORE THE FUTURE OF WORK AND THE WORKPLACE,
Sydney
04 April 2023
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Workspace Expo,
Paris
04 April 2023
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IFMA’s Facility Fusion® Conference & Expo,
San Franciso
11 April 2023
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"FIXING WORK" - a webinar with Neil Usher,
Online
12 April 2023
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Workplace Trends Research Summit,
London
19 April 2023
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Creative clusters, and next steps for growth and innovation in the creative industries,
London
19 April 2023
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CIBSE Technical Symposium,
Glasgow
20 April 2023
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Understanding Wellbeing — Culture Change in the Built Environment,
Manchester
20 April 2023
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May 17, 2016
London’s central office market peak driving change for other zones 0
by Tobi Crosbie • Cities, Comment, Facilities management, Property
There are plenty of good reasons to believe that London’s Central office market has hit its peak. Rents are at an all-time high in the majority of core office locations and whilst the start of 2016 has seen rents rise, there is certainly a clear steadying of the pace. According to our own data, the Landlord’s quoted rents for offices across the entire Central London market. Core offices such as Mayfair and St James’s have reached levels of £150 per square foot (pfs) in Q1 2016 compared with £120 per square foot in Q1 2015 a rise of 25 percent in 12 months. That does sound excessive, until this is compared with the rises seen East of the city in so called ‘fringe markets’ of Clerkenwell, Old Street and Shoreditch. Here the rents have become eye watering. In Q1 2015, the prime quoting rent in Shoreditch had reached £55 psf. In Q1 2016, this number had reached £75 psf highlighting an increase in 12 months of over 35 percent.
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