Cost of London office space set to soar amid supply shortages

23rd July 2015

Office space is in short supply, putting upward pressure on prices, a new survey of property surveyors reveals today.

In central London, 60 per cent more surveyors are seeing a rise rather than fall in demand across all areas, the research undertaken by the Royal Institution of Chartered Surveyors (Rics) said. 

As a result, rents are expected to rise at the second fastest pace since the survey began in 1998, with 71 per cent more respondents in London forecasting higher rent rates going forward.

Offices were the most buoyant sector of the London market, with 79 per cent more chartered surveyors expecting to see an increase rather than a drop.

“The results of the latest survey suggest the price of commercial real estate will continue to move higher over the next twelve months and quite possibly by another ten per cent,” said Rics chief economist Simon Rubinsohn.

Finding and negotiating office space rental in London often has its pitfalls which can easily avoided by speaking to a team of professional surveyors. The five partners at Gryphon have over 100 years experience between them in the London commercial property market.  They can guide you through the process from beginning to end and help you to find the perfect office space in London for your business to flourish.  To discuss office space to let  please call us today on 020 3440 9800.