In its latest (3Q15) Market Report on the European office sector, Savills noted that prime rents and secondary rents in London’s West End were, respectively, EUR1,603 and EUR1,300 per square metre per year. Year-on-year growth in prime rentals has fallen from 17% to 10% since 1Q15. Looking forward, Savills anticipates that take-up of office space will remain unchanged. Supply of new space is expected to fall. Prime rents are expected to rise. In its report, Savills highlighted the low vacancy rate in the prime office market of 2.7%.

Source : Savills/December 2015/London/OFF