Average office construction cost in UK 2022, by selected cities

In 2022, London was still the most expensive UK city for office construction. This was true at least for the cities included in the list, and it applies to prestige and A-Grade offices, but also office fit-outs. Both A-Grade and prestige offices in London were more expensive than any type of office construction in Birmingham, Manchester, Glasgow, or Leeds. After London, Cambridge, Oxford, and Edinburgh are also some of the other UK cities with the highest house prices in 2021.

 Office rents in London

  Not only did London prove to have high building costs, rents for prime offices were equally high, with the West End core as the most expensive districts in the city. The area to the North of Buckingham Palace is known for its exclusive townhouses largely owned by the foreign elite and upscale hotels and restaurants. Stratford and the rest of the Docklands were the cheapest districts in London.

 Office investments in the UK

  In the second quarter of 2022, the value of office investments in Central London has decreased significantly in comparison to the beginning of the year. Investments in the City and Southbank had the biggest drop in value. Meanwhile, office and industrial buildings were the types of commercial real estate with the highest investment volume in the UK.