King’s Cross has seen the biggest rise in occupancy costs in London over the past year, according to Carter Jonas’ latest London office occupancy costs map.
A sharp rise in business rates has spurred growth of 7.9% in King’s Cross, despite little rental movement.
By contrast, rental growth has played a major role in Paddington’s 6.7% rise in costs as headline rents rose £10 per sq ft in the past 12 months ahead of Crossrail’s opening.
Carter Jonas said it expects rents to fall over the next year across London before stabilising
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