17 Mar 2014 Back

Shortage of supply

Victor Harris reports that the West End office market in 2014 is showing signs of a shortage of office supply to meet current demand levels.

The balance has been largely effected by the amount of properties that have been changed from office use to residential use. Currently we have noticed on average that out of ten requirements of the same size there are only two buildings available.

The shortage of supply is good news for landlords and developers who are increasingly seeing their property prices increasing. In the West End office rents for Grade A space have accordingly increased with rents being achieved in excess of £100.00 per sq ft per annum exclusive plus Vat. While Mayfair and St James's lead the way the current signs are that the increasing rents are unlikely to stop increasing.

Question is how long can this last? Only time will tell...

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