Search
 

London Tops EMEA Business Cost Table

LONDON-London's West End remains the most expensive location to set up a new office across major European and Asian cities, despite almost two years of falling rents, according to new research from FPDSavills.

By Graham Parker | Updated on December 10, 2003

LONDON-The West End of London is stil the most expensive place in Europe or Asia to set up a new business, according to new research from FPDSavills. The company estimates that the total cost of setting up a new office for 25 people, including fit out, rent and residential rental costs would be €4,000 per sq m ($450 per sf) per year or €62,500 ($76,250) per person per year.

The City of London financial district is second most expensive with an estimated total office cost of €3,500 per sq m ($400 per sf) per year, or €54,700 ($66,750) per person per year. And Canary Wharf in East London is in third place, costing €3,200 per sq m ($360 per sf) per year or €49,800 ($60,750) per person per year.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.