Prime office rents bounce back to pre-recession levels

摘要

Prime office rents have equalled or exceeded pre-recession levels in five regions - and the West End and City of London are fast approaching the boom time heights, reveals research conducted exclusively for Property Week. Rates in Thames Valley, Manchester, Edinburgh and Cardiff have surpassed 2008 levels, while in Bristol, they have matched the pre-crash figure, according to the JLL data. In the City of London, prime rents hit £60/sq ft in Q 2, compared with £66/sq ft at the end of 2008, while West End rents have recovered to £105/sq ft having peaked at £115/sq ft and crashed to as low as £75/sq ft. The only major market in which rents are well below the levels enjoyed before the downturn is Birmingham, where rents in the city stand at £28.50/ sq ft, compared with £33/sq ft in 2008.