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Office Rents Set to Soar 30%

LONDON-The City, London's traditional financial core, is expected to see rents hit $133.61 per foot over the next three years.

By Anita Howarth | Updated on November 07, 2006

LONDON-Office rents here are set to soar by 30% over the next two to three years, according to new research by Jones Lang LaSalle. Grade-A offices are expected to top euro 104.40 ($133.61) per sf, their highest level since 1988.

We’re already getting there. Last week, British Land said it was letting space at more than euro 74.57 ($95.43) per square foot for the first time in five years. Now JLL reports prime city office rents are some of the highest in the world at about euro 80.52 ($103.04) per foot. Prime West End office space in London hovers at euro 86.46 ($110.65).

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