City office rents in London hit all-time high

One of the highest floors of the Leadenhall Building, otherwise known as the Cheesegrater, has been let out for an astonishing rent of £90.00 per sq ft, shattering the all-time record for the City.
Australian shipping broker, Affinity Shipping, has signed a 10-year lease for 6,584 sq ft of space at the building. The deal beats the previous record rent which was set when Rhode Island-based insurance group FMGlobal took space on the 41st floor of the Cheesegrater for £83.50 per square foot.
Prime office rents in the City are now higher than they were pre-crash. Average rents now stand at £65 per square foot, compared to £63.50 in 2007 when the world was first feeling the effects of the credit crunch. London has seen an increase in demand from occupiers and a fall in office supply, causing the cost of space to soar.
The 224m-high Leadenhall building was designed by Rogers Stirk Harbour + Partners and is the tallest building in the City of London.