The West End district of London has regained its position as the world’s most expensive Office Market in 2013 according to a recent study by Cushman and Wakefield. Hong Kong’s Central Business District was the previous highest in 2012 but low stock levels and increased competition has led to a 2% increase in London Office rents and has pushed the Capital back to the top.
Hong Kong’s CBD drops back to second place, whilst a business district in Rio de Janeiro, the Zona Sul area, climbs from 8th last year and powers into the top three most expensive office locations in the world as a result of a 43% rental increase compared to 2011.
“As a truly global city, London’s appeal continues unabated. In conjunction with a scarcity of good quality stock, prime rents have increased over the year,” said Digby Flower, Cushman & Wakefield’s Head of London Markets. He added: “Equally importantly we expect rents to grow further as we get into recovery mode.”
Our own experience here at Easy Offices would seem to confirm the information in the report. Whilst there has always been a steady level of enquiries for Serviced Offices in London, the prices have only seen marginal drops when compared to previous years and not to the levels experienced by some of the other Cities in the UK. Outside of London where competition amongst Office Companies does not match the level of interest from potential tenants, the price reductions have been far greater and Serviced Offices in Edinburgh, Manchester, Birmingham and Leeds has perhaps never cost less with some real savings to be made.
Wherever it is you are looking though, Easy Offices will strive to make sure your needs and requirements are met and with many companies offering various promotions to incoming tenants there’s never been a better time to save money on your Office Space.
To find out where the best offers in London or anywhere else in the country call us or enquire online.