Prime central London office rents ''may improve in 2010''
Date posted: 25 Sep 2009
Central London and West End office markets may see renewed growth in prime rent levels next year, according to figures published by Knight Frank.
The firm believes that prime rents in the City may go up by as much as four per cent following a large drop in 2009.
Meanwhile, it predicts that West End prime rents could also improve next year, increasing by three per cent.
Knight Frank suggests these forecasts are based on factors such as higher levels of demand seen over the summer months.
Central London and West End office markets may see renewed growth in prime rent levels next year, according to figures published by Knight Frank.
The firm believes that prime rents in the City may go up by as much as four per cent following a large drop in 2009.
Meanwhile, it predicts that West End prime rents could also improve next year, increasing by three per cent.
Knight Frank suggests these forecasts are based on factors such as higher levels of demand seen over the summer months.
The organisation''s head of central London research James Roberts commented: "With global capital markets and world trade, the key drivers behind Central London''s economy, now rallying I see demand increasing gradually going forward, with a knock-on effect for rents from late 2010 onwards."
Last week, research from the property firm Savills suggested many office occupiers are looking to renegotiate rents with their landlords to avoid having to move to cheaper premises.
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