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Get in touch with us nowIn 2024, 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. 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 and Oxford are also some of the other UK cities with the highest house prices in 2023.
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.
In the last quarter of 2023, the value of office investments in London increased slightly in comparison to previous quarters. Investments in the City and Southbank, however, dropped in value. The volume of investment in commercial real estate in the UK fluctuated a lot in the past months, with some years showing high volumes of investment in office real estate, and other months where those values fell rapidly.
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Development of construction costs
Cost per square meter
Material prices
Fixtures and fittings
Labor costs
Land prices
Cost of equipment and machinery
Shortages and challenges
Further related statistics
* For commercial use only
Basic Account
Starter Account
The statistic on this page is a Premium Statistic and is included in this account.
Professional Account
1 All prices do not include sales tax. The account requires an annual contract and will renew after one year to the regular list price.