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London Office Rents to Stabilise, Forecasts King Sturge

LONDON-Office rents in central London are likely to remain unchanged during 2002, according to new research from King Sturge. But the UK's provincial office centres could see continued growth.

By Graham Parker | Updated on January 08, 2002

LONDON-Agent King Sturge is forecasting no change for central London office rents during 2002, although the picture is brighter in provincial office centres where several mega-deals are in the offing.

According to Peter Richards, National Head of Offices at King Sturge, London office rental growth slowed to 6.5% in 2001, down from 16% in 2000, and this decline is forecast to continue with zero growth expected in the coming year.

In the West End market, King Sturge prime rents will remain largely unchanged at between £75-£80 ($108-$115)per sf. The firm expects take-up in 2002 will return to its average level of 3.5 million sf per annum, down from over 5 million sf in 2000.

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