Cushman & Wakefield has forecast that prime West End rents will rise by 40% between now and 2012, marking a return to levels above £9 (EUR 10.2) per m[sup]2[/sup]. The adviser also foresees that lack of supply will lead to a return in pre-letting activity over the period.
Cushman & Wakefield has forecast that prime West End rents will rise by 40% between now and 2012, marking a return to levels above £9 (EUR 10.2) per m2. The adviser also foresees that lack of supply will lead to a return in pre-letting activity over the period.
Despite the worst level of take-up since 1991, the last quarter of 2009 witnessed 68,748 m2 of take-up in the West End - the highest recorded since Q2 2008, the adviser said in a press release.
'Occupiers are beginning to reactivate enquiries in anticipation that landlords will start to take a firmer stance in negotiations throughout the course of 2010,' said Guy Taylor, head of West End office agency at Cushman & Wakefield.
Active demand has also increased quarter on quarter, and there has been a 40% upturn in active requirements in the West End over the full year.
