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London Tops Occupation Cost Tables Again

LONDON-London businesses have to bear higher property costs than their counterparts elsewhere, according to the latest King Sturge Global Industrial & Office Rents Survey. The UK capital has the most expensive office and industrial space in the world.

By Graham Parker | Updated on February 04, 2004

LONDON-London Heathrow is the most expensive location for industrial property in the world, according to the latest King Sturge Global Industrial & Office Rents Survey. Prime warehouse space near the airport now costs €231.43 per sq m ($27.70 per sf) to occupy.

Dublin and Tokyo are the next most expensive industrial locations, while the cheapest industrial space is in Shanghai, China where the occupational cost is €31.22 per sq m ($4.90 per sf) per annum. Occupational costs, including prime rents and other charges, rose on average by 5% across the world during the second half of 2003. North America experienced growth in occupation cost of 7%, in Europe they rose by an average of 2%, while costs in the Asia-Pacific region remained unchanged.

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