West End office rents breach £100 per sq ft
November 16, 2010
Demand for high quality office space in London’s West End is pushing rents up to pre-recession levels, according to today’s Financial Times.
A rent of more than £100 per sq ft has been agreed for the top floor of Prupim’s new development at 40 Bruton Street in Mayfair. And it is a private equity group, Rhone Capital that is taking the space.
The lease length and incentive package is not known at this stage, but the rental level reflects the strong demand from the financial services sector and will encourage landlords to toughen their negotiating position with occupiers.
