The cost of occupying space is about more than just rent – service charges and business rates also push up costs. Research by Carter Jonas shows the full extent of what occupiers have to pay for their space in London, with the West End the most expensive. With Crossrail due at the end of 2018, the desirability of outer locations is likely to increase as they become better connected to the centre.
“Over the next few years there are three strategic issues that are going to have a profound effect on the supply and demand dynamics of the central London office market: the completion of Crossrail, the emergence of new business districts, and the 2017 business rates revaluation.”
Michael Pain, head of tenant advisory, Carter Jonas
