London Office rents could slip 10% by 2009
February 7th, 2008 | by Simon Rattray |
The cost of renting office space in London could fall by as much as 10%, writes thisismoney.co.uk. Increased supply and falling prices mean that it is increasingly becoming a tenants market. For those looking for new business premises this is, generally a good thing, not withstanding the macro-economic impact of the credit crunch on the economy as a whole.
Another interesting fact uncovered by the article is that there is upto five million square feet of un let office space in London set to be open this year. It appears that some prominent potential tenats are hanging fire on their letting plans as they wait for prices to fall this year.
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