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West End revival as fight grows for best office space
Evening Standard
|August 08, 2022
COMPETITION for West End offices is soaring despite the growth of remote working as employers snap up the best space to help hold on to valued staff.
Demand for offices was up 62% in the second quarter of the year, according to new data from BNP Paribas Real Estate. There were 164 deals for 1.21 million sq ft with banking and finance, media and tech and professional services the most active sectors. The speed at which space is let has accelerated by 25%, while 52% of the take-up has been for Grade A space, the report said.
The demand has started to drive prices with prime office rents in Mayfair and St James's up 8% on last year. Average prime West End prime rents currently sit at £130 per sq ft.
Cette histoire est tirée de l'édition August 08, 2022 de Evening Standard.
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