Prime spot for offices

Choregus has reported the latest Knight Frank Real Estate Market Annual Review which shows prime office space rental rates from around the world, Prime office space rental rates.

The rankings reveal London's West End the most expensive £ per square foot at £110.

Other UK rental rates are shown below.

Rank Centre RENT (£/sq ft/yr)

1 -- London, UK (West End) 110.00
5 -- London, UK (City) 63.50
16 --Birmingham, UK 32.50
17 --Manchester, UK 32.00
24 --Edinburgh, UK 28.50
25 --Bristol, UK 27.50
26 --Glasgow, UK 27.50
30 --Leeds, UK 26.00

The Birmingham Post further reports that Birmingham should weather the economic storm with it's balance of supply and demand in the office market better matched than other UK centres, Crunch time for global real estate market.

Geoff Thomas, DTZ’s Birmingham-based regional chairman, said: “Birmingham’s prime office market is far more robust than the City of London or most other centres due to fact that it is a much smaller market and the balance of supply and demand is better matched. “The bulk of Birmingham’s office market relies on occupier churn as companies grow, leases come to an end and they upgrade their accommodation for staff.

This is particularly emphasised with Wragge and Co's move in 2011 to 250,000 sq ft at Two Snowhill which is the largest ever pre-let in the city centre.


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