London’s West End has overtaken Hong Kong’s Central district as the world’s costliest office location according to a new report from property consultancy DTZ.  The annual occupancy cost per workstation in the West End was stable last year at $23,500 (£14,900) but moved from fifth to gain top spot as costs in Tokyo, Hong Kong, Dubai and  Paris fell. Three weeks ago we reported that firms were migrating from the West End to London districts such as Clerkenwell and Shoreditch to take advantage of lower costs and pools of talent in new industries.  (more…)

German cities dominate the investment prospects for Europe’s commercial real estate sector as investors favour safe havens according to a new report – Emerging Trends in Real Estate Europe 2013. Munich tops the league table followed closely by Berlin in second place and Hamburg in fifth position, with investors taking comfort from each of the cities’ strong local micro-economic climate and resilient property market conditions. London, which is seen by many as Europe’s safest investment, is the largest riser in this year’s report taking third position.  (more…)

The National Audit Office has called on the UK government to provide greater clarity to taxpayers and consumers on how it will meet its national infrastructure plan. The government expects £310 billion to be spent by 2015 and beyond on new infrastructure projects in sectors such as energy, rail, roads, water, waste, flood defences and digital communications. The government is looking to private companies to own and finance around 64 per cent of the £310 billion, with the burden of funding likely to shift towards the public as consumers rather than taxpayers.

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