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London Regains Title for World's Dearest Industrial Space

LONDON-London's Heathrow Airport is the world's most expensive industrial location, just ahead of San Francisco, according to a new report by international property consultant Cushman & Wakefield Healey & Baker.

By Graham Parker | Updated on March 19, 2002

LONDON-Industrial space at London’s Heathrow Airport is the most expensive in the world, according to Cushman & Wakefield Healey & Baker. Taking rent, service charges and local property taxes into account, Heathrow space costs €274 per sq m ($22.33 per sf) , while space in second-placed San Francisco costs €265 per sq m ($21.60 per sf). This marks a dramatic turnaround: Heathrow rental values increased by 17% over the past year but San Francisco’s saw a fall of 57%.

The survey found that industrial rents are now falling in many locations, but two hotspots emerged in Tel Aviv and Paris. Tel Aviv moved from 9th to 4th place in the international league table, with a current cost of €169.89 per sq m ($13.85 per sf) and Paris jumped from 20th to 8th with a current cost of €133.65 per sq m ($10.89 per sf).

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