Getting on the ladder
Securing top-quality office space in London's West End and the City is getting harder as demand starts to outstrip supply. Patrick O'Keeffe of GVA Saxon Law, looks at the market
Demand for office space across central London remains strong and rents for prime space are now increasing. At the end of the second quarter of this year, prime rental growth stood at 26% per annum, the highest rate on record since 1990 and up from 20.6% just three months earlier.
Prime rents in the West End and the City have been escalating steadily for some time and have now reached £90 per square foot and £55 per square foot, respectively, in core areas.
Recent occupational transactions at 25
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