The cost of occupying an office in the UK has remained steady in the period from January to July 2012 according to research conducted by BNP Paribas Real Estate.
The report found that only slight increases varying from 1.2 per cent to 15 per cent occurred per sq. ft. of Grade A office space. Edinburgh saw the lowest increase of 1.2 per cent which equated to £43.50 per sq. ft., whilst Chiswick office space cost £64 per sq. ft., an increase of 15 per cent.
London Docklands saw a slight drop in rental rates from £64.60 to £62.00 per sq. ft. which is mainly due to the lack of demand in the area.
Speaking of the findings, Dan Bayley, Managing Director of BNP Paribas Real Estate in Central London said: “It is unsurprising that occupancy rates have remained fairly stable across the country, as occupiers are still looking to secure good deals within Grade A offices.
“As we draw closer to the end of the year we expect activity to pick up again slowly, as there is already a number of high profile deals in the pipeline.”
Other locations which remained steady, with only a slight increase in office rates are:
Do you think office rental costs will remain steady for the remainder of the year? Or do you think as summer draws to a close the market will pick up?
