London’s West End Was Initially The Most Expensive Place In The Planet To Rent Office Space In 2010

Latest numbers released reveal that the West End in London has overtaken Tokyo as being the most costly place on the globe to lease office space.

A study searched into the commercial property marketplaces and office rental costs in 105 worldwide markets and located that the price of hiring West End London office space reached £85 per square ft by the end of 2010, that is a 31% boost on prices at the beginning of the year. Since end of 2010, rents in the West End have carried on to improve and have now arrived at £90 per square ft.

Runner up Tokyo had beaten the West End in 2009 following the collapse of Lehman Brothers, but the weak commercial overlook for Japan has led to higher vacancy rents and rents dropping. City of London office rental seemed to be in the top ten most high-priced places on this planet, considering the list performed by Hong Kong, Moscow, Paris, Singapore, Sydney, Mumbai and Lagos.

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