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Monthly rental cost for London West End (UK) offices 2018 to 2020

As of the fourth quarter of 2019, the per square foot cost of office space in London, and especially the West End was the most expensive of any European city. As of the first half of 2020, the leading location rent for office space in London’s West End amounted to 118 British pounds per square foot. On average the area cost over 55 euros per square meter per month more than Paris.

Office yields

Prime yields in the London area fluctuate between 3.75 percent in Mayfair and St. James’s area, and 4.5 percent in the Paddington, Fitzrovia, Euston, King’s Cross and Bloomsbury area. Typically, prime office yields in London are lower than the rest of the UK in 2019.

Vacancy rates

Despite the high office rental costs in England’s capital city, vacancy rates in London’s West End were as low as 2.6 percent in certain areas. In terms of a European scale, London had average office vacancy rates.

Monthly development of leading location rental costs for London West End (UK) offices from March 2018 to August 2020 (in GBP per square foot)*

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Source

Release date

September 2020

Region

United Kingdom

Survey time period

March 2018 to August 2020

Supplementary notes

* Top rent achieved in British pounds per square foot.

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Statistics on "Office real estate in London (UK)"

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