NEWS

With prime office rental levels up to 60% down on this time last year in the West End area, how much further can the market fall and is now a good time to lease a commercial property.

Most people will agree that rents are now at their lowest level for almost 5 years with landlords competing with eachother for the limited amounts of tenants that are in the market place.

In addition to this, with tenants off-loading large amounts of surplus space on to the market, occupiers are able to pick and choose what they want and in some cases are able to negitiate deals that are at extermely advantageous terms.

Some examples are properties in Grosvenor Street in Mayfair where a deal was recently concluded at a rent of £55 psf- Last year the landlord was quoting a rent of £135 psf.

Another example of this is a newly refurbished property in Fenvhurch Street in the City of London where out of desparation, a tenant has reduced the quoting rent on their excess space from £30 psf to £9.50 psf- YES under £10 psf for new air conditioned offices in the heart of London.

If you are currently looking for a new office then why not call us to see what deals we are able to offer