CBRE: Central London property market driving recovery

Office design news from Morgan Lovell

Published on 16-07-2010

Britain's property market is being lifted by an increase in prime yields and rental growth in the commercial offices sector in central London.

This is according to figures published today (June 16th) by CB Richard Ellis (CBRE), which showed this area of the capital is propping up the entire industry.

The firm noted investor confidence remained strong in London, contributing to a 1.3 per cent rise in prime rents across commercial property.

Senior analyst at the company Nick Parker said the statistics showed a certain divide between the northern and southern regions of the UK.

"The south of England seems to be recovering at a steadier rate," he explained. "Much of the rental recovery to date has been confined to central London."

Commenting on the state of the market earlier this month, Mr Parker said improvements in the capital's occupier levels has saved it from the slowdown experienced in other areas.

Posted by Adrian Norman